Misplaced optimism?

3 September 2008

Paul Snell By Paul Snell

Today’s PMI for the service sector showed activity declined for the fourth month running.

But despite this optimism in the sector continued to grow. In fact, in the whole history of the survey expectations for the future have never been in decline.

With all the recent reports of economic woe and possible recession, I would have expected some form of pessimism about the future at this time more than ever, especially when even the activity figures prove the sector is contracting.

Is this optimism simply wishful thinking? Do you need to be an optimist to succeed in business?

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