The Institute of Directors’ (IoD) survey of 1,000 business leaders also said that 53% thought there was a moderate recession risk.

The National Institute of Economic and Social Research has predicted a UK recession in the first half of 2012.  The UK economy shrank by 0.2% in the last quarter of 2011.  The Bank of England predicts economic growth of about 1% this year. It expects the economy to “zigzag”, dipping in and out of growth, but avoid going back into recession.

recession is defined as two consecutive quarters of negative growth.

Credit: ADP/BBC/Reuters