Britain seen as next economy giant of the West
by FFE EU News staff
By the 4th quarter of 2014 the British economy may register 1.3% growth — faster than any other Western economy. This is thanks to rising business and consumer confidence.
International accounting consultancy Grant Thornton together with the Institute of Chartered Accountants in England and Wales (ICAEW) made this prediction in a report after seeing signs that the British economy is finally recovering in a ‘slow and steady’ pace.
According to the report confidence is at its highest in 10 years, and companies are expecting strong exports and investment next year.
ICAEW chief executive Michael Izza said ‘This quarter’s report shows that the UK economic recovery is well underway.
‘If it continues at this rate, the UK economy will be one of the fastest growing economies in the western world going into 2014.’
The National Statistics recorded that performance across all sectors was ‘fairly strong’ from July to September this year.