Davos is Upbeat for 2011, but why are UK Economy Czars Downbeat?

[Diana Pedersen, Financial News Contributor]
Institutional Investor’s Tom Buerkle says that after the past two years of worry about the world financial crisis, CEOs and financiers are upbeat at the annual World Economic Forum in the Swiss Alpine resort of Davos – “Confidence is coming back, and it’s coming back very strongly,” says Dennis Nally. Chairman of Pricewaterhouse Coopers International. The accountancy firm released the results of a survey of 1,200 CEOs from around the world in which 48 percent of respondents said they were confident about the outlook for the next 12 months, up from only 31 percent a year ago. Even more significant, 51 percent of CEOs said they expected to add jobs in the next 12 months, up from 39 percent a year earlier; the number expecting to cut their work force fell to 16 percent from 25 percent.

Thanks Tom, but that being so, why is Mervyn King, Governor of the Bank of England and his friend, Mr. David Cameron, Prime Minister of the UK, so downbeat about the UK’s prospects for 2011 and beyond?? According to Mervyn, the UK will get a bashing in 2011 with inflation due to rise past 5%.  Read the Telegraph’s commentary to find out more….


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