London: Around 35
percent of directors of British business firms think there is a
high risk of a recession this year, says a survey.
A poll by the Institute of Directors (IoD) said that of the 1,000
directors polled, about 53 percent said they envisioned a moderate
risk of recession, while only 11 percent saw a low or very low
risk of recession this year.
According to the IoD, the business leaders were relatively
confident despite the country's weak economic outlook, Xinhua
If a recession were to occur, around 43 percent of the directors
polled believed it would be short and mild, and 33 percent said it
would be long but mild.
Only 10 percent believed Britain would suffer a long and deep
Companies appeared to be relatively optimistic about their own
business prospects, the survey showed, with 50 percent expecting
higher revenues in 2012 than in 2011.
About 40 percent of the companies expected their profits to
increase in 2012, and 32 percent expect their profits to drop.
However, the companies were cautious about increasing business
investment and employment.
Around 27 percent of companies thought employment would be higher
this year while 25 percent thought it would be lower.