Finance directors are predicting the economy will not improve for at least two years, according to a new study.
Baker Tilly's second
Finance Director Perceptions survey found that 98 per cent of respondents believe the economy will "stagnate" of "fall back" over the next two years at least.
Accountancy Magazine reports that six months ago, only 33 per cent predicted the economic slowdown would last over two years.
Some 78 per cent of the
finance directors surveyed also predicted that next year will be worse than 2008 economically.
Mark Harwood, a Baker Tilly audit partner, told the publication: "Expected falls in interest rates and the value of sterling may be positive news for some businesses, but current behaviours are not necessarily being driven by rational measures and perceptions are at least as important."
A recent survey by accountancy firm Smith & Williamson found that only 50 per cent of large UK legal firms are either "very" or "reasonably confident" about the future.
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