Business confidence in the UK rose during the last quarter of 2016, research from the British Chambers of Commerce (BCC) has revealed.
Data from the BCC’s Quarterly Economic Survey for the fourth and final quarter of 2016 showed that confidence in future turnover, hiring expectations and investment in plant and machinery improved in both the manufacturing and services sectors.
The improvement comes following a slowdown in domestic sales and orders growth for the services sector in the third quarter of 2016.
However, the survey, which collected information from 7,250 companies, also suggested that profit and turnover confidence is still at a relatively low level, compared to confidence levels over past three years.
Adam Marshall, Director General of the BCC, commented: ‘Overall, our findings suggest growth will continue in 2017, albeit at a more modest pace.
‘The government must act strongly this year to support investment and improve the business environment – both of which are crucial to boosting business confidence and therefore further growth.’