Accountancy firm Deloitte said its poll found CFOs were planning to increase investment, as well as hiring, at the fastest pace in almost seven years and were their most aggressive about acquisitions in 11 years.
Ian Stewart, chief economist at Deloitte, said CFOs were much less concerned about Brexit. COVID-19 was still the top of the worry list, followed by inflation and climate change. Over three quarters of CFOs reported growing recruitment problems. Eight in 10 CFOs who took part in the survey said they thought productivity would grow faster after the pandemic.
Bank of England Governor Andrew Bailey said on Friday he expected that an increase in productivity gains brought about by more investment in technology since the onset of the coronavirus crisis would prove to be lasting.Slow productivity growth weighs on an economy's long-term growth potential and ultimately the earnings of workers, and has plagued Britain's economy since the late 2000s.