London business optimism is up, survey says
London business optimism is up, survey says
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Tuesday, 19, Jun 2012 10:51
By Lee Wagstaff
A greater number of London-based companies are more optimistic about the state of the economy and their own business prospects.
According to the latest CBI/KPMG London Business Survey, 41 per cent of firms in the capital are happy with how the economy is shaping up. This is a huge rise on December's figures, when just 13 per cent believed a financial recovery was imminent.
Just under half have a positive outlook for their own organisation over the next six months.
However, there are still lingering fears about another significant downturn, with many respondents citing the ongoing financial problems in the eurozone as their biggest concern.
With Greece, Spain, Italy, Portugal and other nations struggling badly, it is hardly surprising that UK-based enterprises are remaining cautious at the moment.
"Increased eurozone anxiety means employers are reluctant to invest, take on new people or expand their businesses," commented director of CBI London Sara Parker.