A growing sense of economic optimism is a recurring theme among business leaders in a new report by the Institute of Directors (IoD).
According to a poll of 1,369 members of the IoD, reported by hrmagazine.co.uk, the economic outlook appears to be positive for a number of business leaders. The proportion of leaders who expect 2013 to be better than the previous year exceeds those who are viewing 2013 as a negative year, by a margin of 31 per cent.
This marks a huge reversal in optimism from the start of 2012, when the balance of opinion on the new year was a poor -31 per cent.
In addition a number of leaders, which could include the CEO of a company, believe the chance of a return to recession is unlikely. Only 16 per cent believed the risk of recession was high, while 34 per cent believe chances were low.
Graeme Leach, IoD's Chief Economist, commented on the report to stockmarketwire.com: "2012 was a tough year, but business leaders expect 2013 to be much better. The risk of a return to recession and a triple dip has not gone away, but it is receding fast, and expectations of growth are rising.
"George Osborne's approval ratings has suffered, but he retains business support overall. The deficit reduction programme in particular has overwhelming backing from UK directors - the Government absolutely must not waver from the course," he added.