North-west business confidence remains "fragile"

News Article - 18 February 2008
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A regional poll of accountants has found that confidence in business growth in the north-west has improved since the beginning of the year, reports the Manchester Evening News.

The poll, conducted by the Institute of Chartered Accountants in England and Wales (ICAEW), found that although business confidence has increased, it remains "fragile" in the area.

According to Mark Hale, the organisation's north-west director, low expectations in business performance are a reflection of the continuing concern over the current financial climate and the housing industry.

"There is a risk of this impacting on the ongoing regeneration of cities such as Manchester, which depends heavily on the availability of credit and expectations of a healthy property sector," he added.

ICAEW members did claim that areas such as recruitment, export prospects, profits, research and development spending and investment growth could help improve business performance this year, the newspaper reports.

Confidence in enterprise fell to its lowest level since 2003 during the last quarter, the Business Confidence Monitor from the ICAEW showed.

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