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New survey shows UK business confidence up

July 2, 2013

LONDON (AP) — The British Chambers of Commerce says confidence among businesses in the UK is rising amid signs that the economy is making progress.

The quarterly economic survey of some 7,400 businesses says that most of the key balances improved from the previous quarter. The number of companies reporting export deliveries rose to a balance of 36 percent, the highest level since the survey began in 1989.

Chief economist David Kern says the figures show economic growth may increase to 0.6 percent in the second quarter, up from 0.3 percent in the first quarter compared to the same period a year earlier.

But most of the indicators remained below their pre-recession levels in 2007, cash flows remain weak, and the BCC says risks at home and abroad could derail the recovery.