Pah – who said the start of the working week had to be dismal? Business optimism is the highest it’s been for 22 years, according to the latest results of consultants BDO’s monthly optimism index.
BDO also found that hiring expectations are at their strongest since August 2008, although wages growth remained low at only 0.9% last year.
BDO partner Peter Hemington said: “An interesting feature of the recovery so far has been the way in which UK productivity remains at levels last seen in late 2005.
“Looking at this optimistically, this means that the UK can continue to grow for some time by increasing productivity before wage-related inflationary pressures begin to kick in.”
The BDO index uses data from the CBI, the Bank of England’s Agents and Markit, to predict business performance two quarters ahead.
This news follows NIESR’s uplifting prediction last week that the UK economy will grow 2.5% in 2014.
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