RSS feedsBDO Stoy Hayward’s latest poll suggests that recent scares on the stock market and worries about the Middle East crisis have failed to spoil the outlook for UK businesses.
At the same time, the firm also suggests that economic growth in the euro zone will reach 2.75% on an annualised basis this autumn, the best figure for six years.
The polls are a weighted average of the leading business surveys in the UK and Europe and aim to provide the most representative measure of business trends.
The UK’s optimism index has put on a fresh spurt after a plateau earlier this year. In July it rose to 103.6, its highest level since the first half of the 1990s, from 101.8 in April. Although the optimism figure can be volatile, it is clear UK businesses are heading into the autumn in confident mood. This bullishness stems from buoyant demand from key export markets, notably the euro zone, low interest rates in the UK and firm consumer demand.
The euro zone optimism index jumped another 0.9, reaching 99.8, its highest since the millennium boom. This suggests that the three increases in euro zone interest rates so far have not dented business confidence. The manufacturing sector has also seen optimism soar.
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