Three quarters of firms optimistic about the future, says IoD

A new survey of business leaders has found that 75 per cent of Institute of Directors members believe the outlook is now brighter than at any stage since the financial crisis of 2008.

Of the 1,309 members who responded to the survey 46 per cent now have high confidence for the next 12 months, with only 12 per cent saying they have low confidence for the future. That result is a significant improvement on the first quarter of 2013 when only 15 per cent had high confidence, and 39 had low confidence in the economy's prospects.

This new data comes from a survey between 12 and 22 September.

Grame Leach, chief economist at the Institute of Directors says that "business confidence is clearly on the up and that must be good news for investment and employment" but that "the recovery still faces significant headwinds both domestically and internationally".