There has been a downturn in confidence in the UK economy, a CISI survey shows. Of more than 320 respondents, 27% said they were more optimistic for the country’s prospects than three months ago. There was increased pessimism among 28% while 45% felt unchanged about the economic outlook.
When the CISI last ran the survey in April 2012, 42% considered that the UK was on the road to recovery. A further 23% were less optimistic while 35% believed the economy would get neither better nor worse.
One respondent said: “The public need to be encouraged to spend more of their disposable income on domestic goods and services. The politicians seem afraid to say this, but it’s time to reverse the recent culture of thrift.”
Another warned: “Once Europe folds, the UK will take a severe beating.”
When the CISI ran the same survey in summer 2011, 26% of respondents were upbeat about a UK recovery, 35% predicted a downturn for the following quarter and 39% thought the economy would remain at the same level.
To take part in the latest CISI survey, visit cisi.org