The annual economic outlook survey from the Richmond Events’ Business Panel is now available.
Headline findings include:-
- Government’s handling of the economy: 3% rate the government’s handling of the economy as very good, 44% as acceptable, 41% could have been better and 8% as shocking.
- Interest rates: the panel predicts interest rates will be at (average) 0.8% in 1 year’s time and 1.65% in 3 years’ time.
- Growth: Not a single respondent expects the economy to grow significantly over the coming year, whilst 30% expect it to grow marginally. A further 52% expect it to stay much the same as it is now, whilst 16% expect it to shrink a little and 2% shrink a lot.
- Headcount: 25% of organisations have increased headcount over the last year. The number who have reduced headcount, and may do so again, has fallen slightly: 34% to 31%.
- Turnover: just under half expect their turnover to increase, with a further third expecting it to remain the same. As a result, those who feel their turnover will probably reduce comprise only 13% of the panel.
- Profit: Less than half the panel feel their organisation’s profit will increase in 2013, slightly down from last year. 14% feel their profits will fall this year - 5% less than last year. 4% are undecided.
For a full copy of this free report, please contact David Clark.