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Business confidence on the rise

Confidence among business professionals has risen by the largest amount for two years.

The Institute of Chartered Accountants' (ICA) index of business confidence rose to 4.8 at the end of June in comparison to -28.2 at the end of March.

Despite the rise, ICA chief executive Michael Izza warned against “underestimating” the challenges ahead for businesses.

The ICA predicts the UK economy will grow by 0.5% in the third quarter following on from the economy shrinking by 0.8% in the second quarter of this year.

More than 1,000 chartered accountants were surveyed across England and Wales.

Izza said: "This quarter's Business Confidence Monitor suggests that the UK recession is at an end.

"While there is no doubt that the UK economy is on its way to recovery, we shouldn't underestimate the challenges ahead for businesses."

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