UK Business Optimism Reaches 6 Year High

UK companies are at their most optimistic since the onset of the financial crisis, bucking a worldwide trend that has seen business confidence drop in most other big economies.

According to the latest global business outlook survey from Markit, the UK has shaken off the global gloom thanks to a jump in confidence among service companies. That sector, which covers an array of businesses such as hairdressers, restaurants, insurers and lawyers, enjoyed a jump in optimism to a six-year high.

In the smaller manufacturing sector, confidence about business activity in the year ahead was also relatively strong, holding at a two-year high.

Markit, a financial information company, said the optimism in the UK contrasted with many other economies, particularly China and the US where confidence has dropped sharply in recent months.

“The UK … is undergoing a period of solid and increasingly sustainable-looking economic growth,” said Chris Williamson, chief economist at Markit.

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza