Business confidence down, says KPMG

Date: 30/11/2011

Many enterprises may be looking to purchase revenue share numbers to give themselves a financial boost as data shows confidence is falling.

According to the KPMG Business Outlook survey, optimism among firms between June and October fell to its lowest level since the onset of the financial downturn in 2008-9.

As well as worrying about the overall global economic decline, many companies had concerns about the debt situation in Europe and how this will affect other countries.

Global head of advisory at KPMG Mark Goodburn said the results show the globe is in "the midst of a prolonged and deep crisis of sentiment".

"Businesses around the world are grappling with massive uncertainty that is driving down sentiment across the board," he added.

These findings support those of recent research conducted by the Confederation of British Industry, in which 77 out of 122 bosses said they are now less optimistic than they were at the beginning of August.