Steady as she goes
The latest UK Business Confidence Monitor report from the ICAEW has just been published and brings with it further encouragement that the UK economy is slowly but surely feeling better about itself after the toughest economic recession since the 1930’s.
The encouraging takeaways from this latest BCM report are that business confidence grew for the fourth consecutive quarter, it’s the sharpest and most prolonged bounce back since the BCM index began and the latest figure marks the highest levels of confidence seen since 2004.
What’s still worth bearing in mind, though, is the spectre of deep public spending cuts this summer once a new government is installed and sets about working down our monumental public spending deficit. And the fact that while we are clearly feeling much more confident than we did 18 months ago, many businesses are still running below capacity, funding is still hard to find and overall GDP is unlikely to get an altitude induced nosebleed anytime soon.
However, it’s all heading in the right direction – keep on trucking.