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The latest quarterly Business Opinion Survey from the Institute
of Directors (IoD) shows a marked deterioration in the optimism
and performance of UK PLC. The survey suggests the UK economy
is now at a turning point.
The balance of those directors more, rather than less, optimistic
about their company's prospects, slipped to 31% in the latest
survey from 40% previously.
Graeme Leach, Chief Economist at the IoD, said:
"It's too early to be certain, but our latest Business
Opinion Survey does suggest the UK economy is now at a turning
point. Our members seem to be signalling that this is as good
as it gets in the current economic cycle. Company optimism
and performance have declined, but they remain relatively high
compared with recent years. The upshot is, the UK economy faces
a slowdown, but not a downturn."
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