This Writer always had suspicions that economic slumps – and booms – were often the result of arbitrary decisions by bosses and pundits, rather than actual conditions.
Now, it seems, I have proof.
The surveys quoted in this Guardian article suggest that businesses are ready to cause their own recession – due to lack of investment and employment – without any evidence of a need to do so, beyond “dire predictions”.
We need better than this. It’s simply too easy to manipulate – contrary to the good of the many.
The Brexit vote has made businesses more pessimistic about their chances of success in the next 12 months and bosses have become less confident about hiring staff, two surveys show.
The comments come as economists register their concerns about the immediate prospects for the UK economy following the EU referendum, along with warnings that dire predictions might lead businesses to “batten down the hatches” and create a self-fulfilling prophecy of an economic slump.
The proportion of employers expecting to increase staffing levels over the next three months has fallen from 40% before the referendum to 36%, according to a study of more than 600 businesses published on Monday by the Chartered Institute of Personnel and Development (CIPD) and employment agency Adecco.
Meanwhile, a separate survey of 170 chief executives by accountants Grant Thornton found that 49% of respondents were less confident about the year ahead, while only 8% felt more confident. More than 20% are actively planning to decrease investment, while 56% remain unchanged in their investment decisions, Grant Thornton said.
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