U.K. executives’ confidence is improving, surveys show, signaling a strengthening recovery that may push unemployment closer to the level at which the Bank of England says it will review interest rates.
U.K. companies are poised to increase borrowing to finance growth and acquisitions this year as a rebounding economy encourages chief financial officers to take greater risks, according to Deloitte LLP.
Tropical Cyclone Yasi, packing winds stronger than those from Hurricane Katrina that devastated New Orleans, struck Australia’s northeast coast early today, lashing communities with the force of a storm described by authorities as the largest in the nation’s history.
U.K. businesses are more optimistic on the economic outlook this year as tensions related to the euro-region debt crisis ease, according to separate surveys of finance directors and manufacturing executives published today.
Chancellor of the Exchequer George Osborne said U.K. economic growth will be slower than forecast this year and next, forcing the government to borrow more and extend spending cuts to narrow the budget deficit.
Confidence among chief financial officers at major U.K. companies fell for a second quarter to a 12-month low on concern the economy will return to recession amid the government’s budget squeeze, a survey by Deloitte LLP found.