UK businesses more optimistic this year, BCG survey shows


“Business leaders largely expect to maintain or grow their headcount," Raoul Ruparel, director of BCG’s Centre for Growth, said. — Reuters

LONDON: UK businesses are more optimistic this year about their profits and broader economic growth than they were last year, an annual survey by Boston Consulting Group shows.

The findings, based on a poll of 1,500 businesses between Jan 4 and Jan 15, showed a similar pattern to closely watched purchasing managers’ index figures, which recorded the fastest growth in eight months in January.

Britain’s economy entered a shallow recession in the second half of 2023, but Bank of England governor Andrew Bailey has said he has been encouraged by signs of a modest pick-up, bolstered by lower inflation and expectations of interest rate cuts.

“We are seeing signs of emerging optimism amongst business leaders in the UK,” Raoul Ruparel, director of BCG’s Centre for Growth, said.

“Business leaders largely expect to maintain or grow their headcount, and over half plan to raise prices by more than 6% this year,” he added. — Reuters

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