Orange & Gold Blog

UK business confidence hits new 10-year high

The latest Institute of Chartered Accountants / Grant Thornton Business Confidence Monitor survey results show business confidence has risen to the highest point recorded in the 10 years that the survey has been running.

UK economic growth is set to accelerate in Q4 2013, with the report forecasting a 1.3% rise in GDP this quarter. There are also tentative signs that the recovery is becoming both business and consumer led, with companies expecting growth in exports and business investment in the coming year, a change from previous results, when the concern was that the recovery was too consumer-led, with too little in the way of exports, investment or hiring expected by businesses.
Key findings for Q4 2013 are: the BCM Confidence index stands at +31.7, up from +24.0 in Q3 - this is its highest level in the 10 years the survey has been running; the UK economy is forecast to grow by 1.3% in the fourth quarter - this is the fifth quarter of rising confidence, the longest sustained period of rising confidence, suggesting the recovery continues to gain momentum.