CBI predicts economic recovery in all regions

The
CBI is predicting an economic recovery in the UK with business confidence
growing in every English region and in Wales.

A
survey published today shows that between now and summer 2004 domestic orders
and employment are both expected to rise in every region.

A
twice-yearly report published by the CBI and the Government’s regional development
agencies shows that output has grown in every region in the past year and
employers expect this to continue.

Doug
Godden, the head of economic analysis at the CBI said a global recovery was
boosting the mood of companies in England and Wales.

"Rising
orders at home and abroad are ensuring that many companies expect to take on
staff in the coming year. Even so conditions remain competitive," he said.

However,
tight competition means that profits and overall profitability will remain
under severe pressure.

By
Ross Wigham

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