The monthly Business Trends Report by BDO has revealed that output in March rose by the second fastest pace on record with employment prospects at the highest since 2008. Meanwhile, a study of small and medium sized firms by GE Capital indicates they plan to take on 660,000 new staff in the coming year, 26% more than at the same time last year. A further poll of 126 CFOs by Deloitte shows 81% expect a rise in recruitment and 80% predict increased investment with 95% expecting to see an increase in takeover and merger activity this year. Deloitte chief economist Ian Stewart said: “The default position of large corporates in the past six years – bullish on emerging markets, cautious on developed markets – seems to be reversing.”