Boost for global trade
Aug 09 2010
“Companies are more robust if they have an international spread of clients”
The confidence of UK importers and exporters about the shape of the economy is on the up.
A confidence index, compiled by foreign exchange provider Travelex, shows that hopes for a return to strong economic growth jumped 12 points in July to 116, up from 104 in June.
However, 84 per cent of respondents are concerned about the health of the global economy. The figures underpin growing worries in the financial markets that the US recovery has slowed and may lead to a double dip recession.
Paddy Earnshaw, director of customer relations at Travelex Global Business Payments, says: 'July’s sharper than expected increase in confidence will help improve importer and exporter morale and allay concerns about the medium to longer term growth outlook.’
Research for the index was carried out between 12th and 26th July.