"There is a gradual improvement in the economy and the recovery is starting to stand on more solid ground"
-Michael Izza, chief executive of ICAEW
The U.K. business confidence continues to improve, despite a weak growth of the nation's economy. According to the quarterly Business Confidence Monitor, confidence remains at the highest level since the third quarter of 2010. It is also estimated that the U.K.'s economy will face a stronger economic growth of 0.6% in the second quarter due to improved business confidence, which would be one of the main drivers for economic expansion. Confidence improved across all sectors and in all parts of the economy, the data showed. However, the plans for increase in business investment remained weak, while consumer spending remains under pressure.
"There is a gradual improvement in the economy and the recovery is starting to stand on more solid ground," said Michael Izza, chief executive of ICAEW.
"We should not be complacent though. There is still a degree of fragility and the economy is susceptible to knock-backs from events outside the UK," he added.
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