Top UK execs confident on jobs and spending

Top execs are increasingly optimistic about the performance of their companies this year as the state of the global economy improves.

Three-quarters of senior executives believe their companies and industries will grow in 2006, according to a survey by Accenture.

More than three-quarters plan hiring in the next six months and nearly half expect to increase spending this year.

UK executives are even more bullish on growth prospects - 95 said their company would increase sales in 2006, and 88 plan new products launches. Around 42 per cent said spending in their area of responsibility will increase - compared to just 16 per cent who will reduce spending.

Bosses see the competition as the biggest threat to their success, followed by problems with attracting the best talent.

Mark Foster, chief executive of Accenture's products operating group, said in a statement: "The perception among C-suite executives that the global economy is getting stronger should be a hopeful indicator for global business."

He added: "As optimism for the global economic climate improves, top executives are more apt to focus on improving their own businesses by spending for programs that might have been curtailed or postponed and by hiring new employees to carry out their growth plans."

By geography, executives in China are the most optimistic about economic growth - 98 per cent predict growth for their industry this year. By sector, financial services industry execs are most optimistic - 86 per cent predicting growth. By job title, COOs and HR bosses are most optimistic.