in the news
Recession is over says
ICA report
Confi dence among business professionals has moved into positive territory for the fi rst time in
two years, providing further evidence of an improving UK economy, says the Institute of Chartered
Accountants.
The latest ICAEW UK Business Confi dence Monitor (BCM) shows a record rise in confi dence
from -28.2 to +4.8, the highest since Q3, 2007. Based on this, the ICAEW predicts that GDP will
rise 0.5% this quarter.
This quarter’s change is the largest quarterly improvement seen since BCM began. This cautious
optimism is underpinned by expected rises over the next 12 months in 13 out of the 14 fi nancial
performance indicators detailed within the BCM. This is in contrast to the picture earlier in the year
when the majority were expected to contract.
Michael Izza, Chief Executive of the ICAEW, said: “This quarter’s BCM suggests that the UK
recession is at an end. While there is no doubt that the UK economy is on its way to recovery, we
shouldn’t underestimate the challenges ahead for businesses.
“Businesses have taken the right actions to mitigate the impact of the downturn and are playing
Special
their part in an improving economy. Policies such as quantitative easing, the fall in interest rates
and the VAT reduction have all helped improve business confi dence. “However, the recovery is very
Editions signs
fragile and I would urge policy makers not to take any actions that could derail it.”
When asked, 41% of senior business professionals were more confi dent about economic
prospects facing their business in the next year. However only 6% were much more confi dent,
up Wallace &
indicating that caution remains about the strength and timing of the recovery.
The monitor revealed that businesses have looked to cut costs where they can, including a
Gromit
reduction in the number of employees (-2.9%). Although this is the biggest ever drop, fi rms do
not expect to make further redundancies in the next year. Staff development (-1.5%) and capital
UK Greetings’ charity brand, Special Editions, will be
investment (-1.4%) have also been cut and stock levels continue to be closely managed. Over
producing a pack of Wallace & Gromit greeting cards for
a quarter (26%) in the Manufacturing, Construction and Transport sectors have stocks of raw
Christmas 2009.
materials and components below normal levels.
The pack of two designs has been designed exclusively
IT is the most confi dent sector (+18.5%), followed by Banking, Finance and Insurance (+15.9%)
for the Wallace & Gromit Children’s Foundation through a
and Property (+11.7), compared to the UK average of +4.8.
special agreement between Aardman and Special Editions.
Across the country, business confi dence rose across all regions for the second consecutive
The designs feature the well-loved characters, known for their
quarter. Wales is the most confi dent with an Index of +16.9, followed by Scotland at +15.9.
award-winning fi lms and will be available from John Lewis,
Northern England is most positive of the English regions having seen a rise of over 50 points.
Waitrose and many independent greeting cards retailers
London and South East are the most cautious (-1.1 and -0.6 respectively), refl ecting a net balance
around the UK.
of businesses who were wary about economic prospects.
All the proceeds from the sale of the Christmas cards will
Michael Izza concludes: “Although positive growth in the autumn seems more likely, there are
be donated to the Wallace and Gromit’s Children Foundation,
concerns about the strength of the recovery. Salaries are expected to remain squeezed and with
which was set up by Aardman 4 years ago and raises funds to
no planned recruitment there is still an air of nervousness among UK businesses. Confi dence is up
improve the quality of life for children in hospitals and hospices
but those in Manufacturing and Engineering, as well as large businesses, remain cynical about their
throughout the UK. The foundation provides funds for various
prospects for the future. Both are crucial to the UK economy and the signs are that the next twelve
projects to enrich and enhance the lives of patients in hospitals
months are very much about building for the recovery.”
and hospices in regional centres throughout the country. Every
penny of money raised goes directly to the charity as Aardman
cover all the overheads and running costs of the charity.
The 4th November 2009 sees the 20th Anniversary of
Wallace and Gromit and to celebrate, Wallace and Gromit
OBITUARY
Tea Parties will be taking place across the UK to raise even
more funds for children in local areas through the Wallace and
David Espley, 1931-2009
Gromit Children’s Foundation.
For more information visit www.wallaceandgromitteaparty.
David died unexpectedly on Wednesday August 5th, aged 78 years.
org.uk
He began his greeting card career 51 years ago when he was one of the fi rst salesman to be
employed by Hallmark when it opened its UK operation in 1958.
The greeting card world and David’s skills proved a good fi t
and his success as a salesman earned him an early promotion
into sales training. But in 1965 he left Hallmark to accept a
managerial role at Kaye Gisbon (now UK Greetings) where he
prospered.
In 1978 he was given the opportunity to join the wholesale
.co.uk
trade with a senior management role at Universal Greetings
(latterly the Fine Arts Group).
David’s work in the industry was rewarded in 1987 when
he was elected President of the Greeting Card & Calendar
Association (forerunner of the GCA), following which he set up
his own company, DEBUT.
He retired in 2002 and those people that knew him will
eetingstoday
remember his tireless and infectious enthusiasm in his approach
.
gr
to just about anything he considered worthwhile.
www
6 www.greetingstoday.co.uk
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