Economic recovery 'to come in 2011'

Businesses in the UK believe that economic conditions will begin to improve within two years.

Almost 900 senior managers from 29 countries were questioned by management consultancy KPMG.

Eight out of ten global business leaders said that recovery would come in 2011, with British respondents more pessimistic than their international counterparts.

The majority of non-UK people questioned, however, named 2010 as the year when the global economy would pick up.

Sue Bonney, head of tax at KPMG Europe, said: "Although commentators, encouraged by a stockmarket rally, are detecting 'green shoots', UK business does not expect a recovery until 2011.

"This is in line with the pessimistic assessment published by the Bank of England recently and the earlier findings of the IMF that financial crises lead to long drawn out recessions."

KPMG employs more than 10,000 people, of whom a large number are employed in tax jobs.

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