Confidence among business professional has risen into positive territory for the first time in two years, according to the latest Institute of Chartered Accountants (ICAEW) UK Business Confidence Monitor.
The ICAEW have revealed that confidence has risen from -28.2 in the second quarter of the year to +4.8 in this quarter - the highest figure since the third quarter of 2007.
This rise in confidence has been attributed to quantitative easing, the fall in interest rates and businesses in the UK having cut all unnecessary expenditure.
"While there is no doubt that the UK economy is on its way to recovery, we shouldn't underestimate the challenges ahead for businesses," said Michael Izza, chief executive of the ICAEW.
www.ukba.co.uk
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