BUSINESS confidence remains high following a last minute surge in consumer spending over the Christmas and new year period, despite the warnings from firms in the retail sector.
According to the latest BDO Business Trends report, short-term optimism has remained at its highest level since August 2004, with the latest figures dispelling fears that the summer retail slowdown would continue.
Stable interest rates and consistent performance in the service sector have helped UK business confidence to remain buoyant, with optimism in the sector remaining high.
Confidence in the manufacturing sector, however, fell slightly on the back of volatile oil prices.
Kim Hayward, partner at BDO Stoy Hayward's Southampton business centre, said: "The latest poll of polls points to healthy growth in the economy, especially in the service sector.
"Businesses have moved on from the doldrums of the summer, and business confidence picked up towards the end of last year, as consumer spending rose back to typical levels."
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