London fund managers and analysts have become more confident in the U.K. economy after recent indicators signaled a strengthening recovery, a survey found.
Eighty-two percent of 200 investors and analysts polled expect the economy to improve over the next 12 months, up from 69 percent a year earlier, London-based Capital Spreads said today. The survey also showed that 62 percent view the recovery as sustainable and not built on an “artificial housing boom.”
The Bank of England said last week that the recovery is “taking hold” and increased its growth forecast for this quarter to 0.7 percent from 0.5 percent. The nine-member Monetary Policy Committee unanimously agreed at its meeting this month that the economy currently requires no more stimulus, and policy maker Ben Broadbent said yesterday recent data has been strong.
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