British firms more bullish than other advanced economies

UK BUSINESSES are more positive about the year ahead than those of any other major economy in the world, according to a major international survey out today.

British firms are outstripping their American, European and Japanese counterparts by a distance in terms of optimism for 2015.

Markit’s latest global business outlook shows that even when the largest developing economies are considered, only Brazil’s firms are more confident than those in the UK.

“The UK is once again the stand-out performer among the world’s largest economies, seeing by far the highest levels of business optimism in relation to output, employment, investment and profits,” said Markit chief economist Chris Williamson.

The British sentiment strongly contrasts with some parts of the Eurozone, where business expectations suggest that the region’s modest recovery may not strengthen much further. German optimism has fallen, and French companies are now expecting to reduce investment and job numbers over the next 12 months.

Expectations on prices also reflect the low inflation climate around the world, and are now at their lowest level in four years, according to the survey.