Business confidence at five-year high - researchers

Economic optimism among businesses in Britain has soared to levels not seen for more than five years, research out today claimed.

Confidence was rocked in 2001, as the events of September 11 hurt the already fragile global economy further.

But a survey of 500 companies by Continental Research today showed optimism in the economy among businesses was back at levels last reported in January 1997.

Of those surveyed, 62% said there were more optimistic about the future with 21% more pessimistic. Immediately after the attacks, net economic optimism dived to minus 48%.

The market research group’s Business Confidence Report also found 62% of firms were expecting trading activities to increase over the coming months with just 6% forecasting a fall.

Continental Research director Colin Shaddick said: ‘‘While views on the economy are quite volatile, businesses’ views on their own performance are more stable.’’

Continental Research interviewed 500 small, medium and large firms from a range of sectors, including retail, finance and manufacturing.