KPMG survey highlights business confidence

Professional services firm KPMG has reported the existence of business confidence outside of the financial services sector.

According to the findings of a survey by KPMG, a firm with a history going back to 1987, over the next 12-month period a total of 60 per cent of the UK's businesses estimate their prospects to be either very good or good, reports the Western Mail.

This sentiment is in spite of 88 per cent of businesses believing that the UK economy is currently experiencing a period of economic downturn.

Simon Jones, senior partner at KPMG in Cardiff, said: "This survey acts as a snapshot of what is keeping Britain’s chief executives awake at night."

"What is most interesting is that there appears to be a real dichotomy between the lack of confidence in the wider economy and that of the non-financial businesses themselves."

KPMG's findings are based upon a poll of UK-based senior executives.