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Confidence returns to economic outlook

Chartered Insurance Institute | Chartered Insurance Institute

2 min read Partner content

A survey by the Chartered Insurance Institute sees an unprecedented two-thirds of their members expecting the UK economy to improve in the next twelve months - a 15% increase on 2014's results.

60% of respondents anticipate an upswing in their own businesses' financial performance over the coming year. This is the first time that members have felt more optimistic about the economy as a whole than for their own businesses - although there is a record upturn in both figures.

In addition young members were found to feel the most optimistic about changes to their employment prospects. Almost half (47%) of under-25s feel their position in the employment market is 'much more positive' than it was a year ago; and four-fifths (80%) of this age group report some degree of positive change. More senior members are also positive with more than three-quarters of over 65s saying their employment prospects are stable.

Laurence Baxter, head of policy and public affairs at the CII, said: "CII members have good reason to be more optimistic about the economy and their position within it as the global economy is continuing to edge out of the subdued period it has experienced over the past few years."

"These economic changes are reflected in the very positive results in all three of the member survey indices - economic, business and employment prospects."

Unlike the variation found in age demographics - when examining data by gender there is not a huge degree in difference perceived in employment prospects over the coming year.

The full report - CII Member Survey: Economic and business prospects for 2015- can be found here.

Read the most recent article written by Chartered Insurance Institute - Surge in insurance apprenticeships

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