British businesses have a positive outlook in the short-term, with the UK’s economic recovery gathering momentum this year, according to the British Chambers of Commerce (BCC).
Responses from more than 8,000 businesses showed improvements in most areas for both the manufacturing and service sectors, according to the Quarterly Economic Survey for the fourth quarter of 2013.
Key manufacturing balances such as domestic orders, employment, employment expectations, turnover confidence and profitability confidence all improved in the last three months of last year, suggesting business confidence is improving.
John Longworth, Director General of the BCC, said: “It is fantastic to start the New Year with a very positive quarterly survey. Confidence is high and our members are resolute in their determination to take the recovery from being good to being truly great.
“Cashflow continues to be an ongoing concern, and may hold businesses back from expanding to meet the growing levels of demand. We must give companies the opportunity to get the finance they need to go out and trade the world if we are to succeed in rebalancing the economy.”