Business optimism booming

News Article - 09 May 2007
Category: Business

Businesses across the UK are experiencing heightened levels of optimism of the kind which have not been seen across the whole of the country since 1995.

A study by the Confederation of British Industry showed a marked rise in the confidence of firms in the whole of the UK - something which has not been experienced in over ten years.

Over the last quarter, Northern Ireland and Wales were the regions seen to have the biggest confidence boost since they were last surveyed, while optimism was seen to be highest in the east of the country, the south-east, London and Yorkshire.

Lai Wah Co, the CBI's principal economist, said: "For the first time in over a decade, manufacturing demand has strengthened in every UK region, prompting greater business confidence across the country."

The expert added that with slowing rises in unit costs, profit margins could be repaired and domestic prices could be increased.

In related news, the most recent BDO Business Trends report found that the UK's economy is set to overtake that of the eurozone this year.

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