Business leaders more optimistic about 2013 than 2012

There is a growing sense of economic optimism for the year ahead compared to 12 months ago, a poll of business directors has suggested.

A survey of 1,369 members of the Institute of Directors (IoD) found that business leaders are starting 2013 with a better outlook on the coming year than at the beginning of 2012.

2012 was a tough year, but business leaders expect 2013 to be much better. The risk of a return to recession and a triple dip has not gone away, but it is receding fast, and expectations of growth are rising.

George Osborne's approval ratings have suffered, but he retains business support overall. The deficit reduction programme in particular has overwhelming backing from UK directors - the Government absolutely must not waver from the course.

– Graeme Leach, Institute of Directors Chief Economist