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Business confidence improves in January

Surveys released by Icaew/Grant Thornton and Lloyd's Bank have revealed today (February 4th) that business confidence within the UK economy is sitting at a ten-month high.

The former report has made a prediction that the surge in its business confidence index from 4.2 at the end of 2012 to 12.8 now means that the economy will grow by 0.4 per cent in this quarter - a stark contrast to the 0.3 per cent dip in the final quarter of last year.

Were this prediction to be realised, Britain would avoid the triple-dip recession feared by many financial analysts and investors.

Lloyds Bank's monthly business barometer found that the net balance of companies that felt positive about their trading prospects increased six points to 46 per cent last month.

The bank's report also revealed that 50 per cent of firms were more optimistic about their prospects than they were in December while just four per cent were less positive, the Herald reported.

It has been suggested that the Funding For Lending scheme launched in August has improved moods as more credit is now being made available to businesses and households.

These results signal a slow but real turnaround of the domestic economy as businesses gradually begin to look gladly towards the future.

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Posted by Richard EsquilantADNFCR-1617-ID-801534547-ADNFCR