British businesses anticipate bumper profits for 2014
British businesses of all sizes are looking forward to a bumper 2014 defined by rising sales, exports and profits – according to a survey conducted by Lloyds Bank.
More than 1,500 firms took part in the survey, which found the highest level of confidence in the economy since January 1994 – fuelled by an anticipated rise in orders, sales and profits over the next six months.
It coincides with a separate survey from manufacturer’s organisation EEF which showed two-fifths of companies planned to raise investment.
Terry Scuoler, chief executive of the EEF, said: "Manufacturers are telling us they expect to make a greater contribution to growth, investment and jobs this year."
It marks a welcome reversal in fortunes for the country following a lengthy period of contraction borne out of the 2007 financial crisis.
A rising tide of optimistic sentiment is expected to lead to a fall in unemployment, increasing speculation that the Bank of England will raise interest rates from their present record lows.