Business confidence has jumped to its highest level in 16 years as Britain prepares to exit the coronavirus lockdown.
Advisory firm BDO said manufacturing is driving the optimism amid an improved global economic outlook, as the effects of the vaccine rollout begin to be felt.
Boost: Advisory firm BDO said manufacturing is driving the optimism amid an improved global economic outlook
The rise in its Optimism Index to 112.45 in June, compared to an average of 100, marked a fifth consecutive month of growth, and reached the highest point since records began in 2005.
Kaley Crossthwaite, a partner at BDO, said the UK could look forward to a ‘summer spending splurge’.
This will be boosted by the £7,800 jump in the average wealth of Britons during the pandemic, the first time this has happened during a recession in the last 70 years, according to the Resolution Foundation.
Hiring intentions have also improved to a record high, a third report from Accenture and IHS Markit said.
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