Business leaders broadly are optimistic in the global economy, as they were 12 months ago. Our annual Business Leaders Outlook survey indicates that 43% of leaders are upbeat about the U.K. economy, while 32% are pessimistic—and another 25% hold neutral views.
Strong majorities of respondents are more optimistic about their own industry’s performance and their company’s performance. Most companies expect to increase revenue and profits this year, yet most leaders are not as optimistic as in previous years.
How do these seemingly conflicting sentiments piece together? After several years of economic turbulence, a gradual recovery and growing geopolitical conflicts worldwide, the responses—and lack of consensus—suggest executives are positioning their organisations to pivot in response to continued mixed market signals. Rising rates, uncertain economic conditions and geopolitical concerns are top of mind for local business leaders.
And as artificial intelligence and machine learning have entered the mainstream, midsize companies suggest they are already exploring the powerful new technology. A resounding 79% of companies are using or considering AI tools.
Contributors
Vis Raghavan
Chief Executive Officer EMEA J.P. Morgan
Charlie Jacobs
Co-Head of Investment Banking, U.K.
Richard Sheppard
Co-Head of Investment Banking, U.K.
Catherine Pierre
Head of Commercial Banking, U.K.
Jack Counterman
Head of Commercial Banking Treasury Management, U.K.
Pierre Maman
Vice Chairman, Head of Debt Financing, EMEA, Commercial Banking
About the survey
In its third year, the annual U.K. Business Leaders Outlook survey is a snapshot capturing the concerns and expectations of senior business leaders at midsize companies with annual revenues generally ranging from £20 million and £2 billion.
This year, 279 respondents completed the online survey between 16 November and 13 December 2023. Results are within statistical parameters for validity; the error rate is plus or minus 5.6% at the 95% confidence interval.
Read our other 2024 Business Leaders Outlook reports.
JPMorgan Chase Bank, N.A. Member FDIC. Visit jpmorgan.com/commercial-banking/legal-disclaimer for disclosures and disclaimers related to this content.
