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UK fears double-dip more than any other country.

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The fear of a double-dip recession is rated higher in the UK than in any other country, according to the annual Ernst & Young report asking companies to rate the risks they face.

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The fourth Ernst & Young Turn Risks and Opportunities into Results report found that although the potential for a double-dip recession dropped down the table globally to eighth position, in the UK it remained prominent, with respondents ranking it joint fourth, reflecting a relative slowness in emerging from the financial crisis.

The report surveyed more than 700 leading organisations, asking respondents about the most pressing risks and opportunities facing their companies. Overall, it found that in the UK cost-cutting topped the potential business hazards, followed by uncertainties around regulation and compliance, with pricing pressures in third place.

This need for companies to respond to aggressive pricing, particularly in mature markets, entered the list of hazards for the first time.

The report also...

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