The UK’s economy is set to undergo a sustained growth period, according to figures from the Confederation of British Industry (CBI).
Business investment is set to play a large part in the expansion, with levels shifting from a 3.7 per cent decrease in 2013 to a 6.6 per cent increase this year.
Furthermore, gross domestic product is expected to rise by 2.6 per cent, which is up on November’s forecast of 2.4 per cent.
CBI director general John Cridland said: “More businesses are feeling inclined to invest in new technology and advertising. We can also expect to see more companies coming to market to raise finance and an uptick in merger and acquisitions activity, as animal spirits return.”
Mr Cridland described the trend as the “right kind of growth”, but warned next year’s general election – and the political uncertainty it brings – could dampen the mood slightly in months to come.
Posted by the Secret Businessman