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April 4 2018

UK Managers Deliver Gloomy Economic Outlook for 2018

Only 28 percent of UK managers expect the economy to grow, according to a survey of 1,037 managers surveyed by the Chartered Management Institute. Optimism is the lowest in four years and down from 63 percent in 2014. The survey also found only 62 percent of managers saw no growth during the past 12 months, and 75 percent said their businesses will focus on controlling costs over investing in growth in 2018. In addition, 78 percent said they are struggling to hire skilled workers.

"The decline in managers' optimism in the UK economy for 2018 is unsurprising given Brexit uncertainties", said Petra Wilton, Director of Strategy and External Affairs at the CMI. "We need to rebuild confidence and nurture growth through investing in people".