Following the UK economy’s emergence from the recession, businesses are likely to begin regaining some of their confidence in a couple of years, it has been claimed.
According to Tony Dolphin, senior economist for the Institute for Public Policy Research, growth during 2010 is likely to be weak.
However, while it could take some time, economists have predicted the economy will return to a state of normal growth, with low interest rates and other measures contributing towards this.
In light of this, he noted the UK is getting back to normality and will start looking more recognisable in the forthcoming years.
“Part of that will be about businesses getting their confidence back and households getting their confidence back. If businesses are not confident, then we won’t get back to normal. If they are confident, then they will,” Mr Dolphin advised.
His comments come after a report by BDO LLP said that businesses will not return back to pre-recession normality for some time to come.