UK business confidence moves into positive territory
The latest instalment of a quarterly report by the Institute of Chartered Accountants, the UK Business Confidence Monitor Report, shows that business confidence has risen dramatically since Q1 2009 – at which point confidence levels were at their lowest since the report began in 2004.
Douglas McWilliams, ICAEW Economic Partner, says:
“The latest ICAEW UK Business Confidence Monitor (BCM) shows a significant improvement in confidence. The Confidence Index has moved into positive territory for the first time since Q3 2007 when the credit crunch was in its infancy.”
Four in ten senior business professionals interviewed are said to be more confident about the economic prospect of their company over the next 12 months, compared with the last 12 months.
However, only 6% of professionals interviewed reportedly felt “much” more confident, indicating that despite improved levels of confidence, many businesses are choosing to exercise caution over the coming months.