According to the latest quarterly business trends survey by the Jersey Chamber of Commerce, four fifths of firms are pessimistic about the outlook for the island's economy for the twelve months ahead.
The survey has also revealed that more firms are pessimistic about their profit levels compared to earlier in the year. In the previous survey, which covered the period from January to March 2003, 29% of companies said they were slightly optimistic on profit levels, with 18% revealing that they were slightly pessimistic. In the latest survey, the percentage of slightly optimistic firms had fallen to 23% while the slightly pessimistic firms had increased to 30%.
In terms of overall turnover there has been a less pronounced drop in confidence, though firms remain more pessimistic than before. The number of slightly optimistic firms previously stood at 29% against 22% who were slightly pessimistic. This figure now stands at 27% for both categories.
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