BUSINESS confidence levels among North West professionals have shown a record rise.
The latest Institute of Chartered Accountants in England and Wales Business Confidence Monitor (BCM) revealed a huge swing in confidence from -23.4 to +7.1 – the biggest quarterly improvement shown by the BCM and the first time the region has shown a positive response for two years.
Michael Sale, President of the Liverpool Society of Chartered Accountants, said: “The latest BCM suggests a return to positive growth, signalling the end of the UK recession.
“This is reflected in the North West, where turnover is expected to rise by 2%, sales volumes are forecast to rise by 1.6% and gross profits are expected to rise by 1.7% over the next 12 months.
“However, while there is no doubt that the UK economy is on its way to recovery, we shouldn’t underestimate the challenges ahead.
“The forecast growth rates for these key performance indicators are still below the national average and significant challenges remain.”
