So companies that make up the bulk (but actually 40%) of the economy report rising optimism about the economic outlook?

“Most forecast a long, slow recovery, such as in Japan, in which joblessness remains high.”

I also think this is the most likely outcome and items such as this tend to reinforce the view. The situation is the same in Europe and in the US in particular, where most business confidence indicators are testing new lows.

It does cast some doubt on the coalition’s claims that the private sector will be adding millions of jobs, lessening the impact of public sector cuts.

I think it is more likely that the participation rate will decline, masking some of the effect, but I really cannot be optimistic about the future…

The latest available official business investment figures are for the first quarter this year, when investment was 7.7% lower than in the same period the year before:
http://www.statistics.gov.uk/cci/nugget.asp?id=258

I shall be very interested to see the second quarter figures for business investment when those come out.

As for the contribution of net exports to GDP growth:

“Britain’s trade deficit in May reached its widest level since before the collapse of Lehman Brothers in September 2008, underlining fears that the UK will not be able to export its way back to economic health.”
http://www.ft.com/cms/s/0/9c096f3e-8b36-11df-a4b4-00144feab49a.html?ftcamp=rss

Ominous assessment of UK economic prospects by highly rated think-tank:

The spectre of a double-dip recession was also raised in the UK this week with a closely watched business survey suggesting firms are already taking a hit from cancelled public sector contracts. NIESR said economic growth was already losing steam and the trend would continue over the coming months.

The thinktank estimated GDP growth slowed to 0.9% in the three months to July, slipping back from 1.1% in the three months to June. But that was still above the 0.6% for the third quarter as whole predicted by the government’s fiscal watchdog, the Office for Budget Responsibility. NIESR predicted output was unlikely to get back above its previous peak until 2012, meaning the economy was in for a “period of depression”.
http://www.guardian.co.uk/business/2010/aug/06/us-job-losses-double-expected