The UK’s senior executives increasingly believe that the country is heading back towards recession, according to a survey of 616 business leaders.
Research carried out by the Chartered Management Institute (CMI) shows that just 8% of the executives polled say the UK’s GDP will grow in the coming 12 months.
This is a decline from the 15% anticipating growth when surveyed six months ago.
In addition, 68% of the UK’s senior executives think it is likely the country will return to recession in the coming months.
Petra Wilton, the director of policy and research at the CMI, says: “Given the pressure on the private sector to spearhead the recovery… the predictions of business leaders make particularly uncomfortable reading.”
The report also says that 46% of leaders expect their recruitment budgets to fall between now and March next year, while one-quarter think the government is not working fast enough to reduce the deficit.