The levels are still weak by historical standards and are way below their 2007 pre-recession level, but hey, progress is positive, right? The results are up in manufacturing, rising +5pts to +8% and in the services sector, gaining +10pts to +11%. Meaning all domestic balances in these sectors were stronger than Q3.
The marked increase in confidence in Q4 reinforces the BCC's view that 2013 will be a period of recovery, albeit a slow one. Despite the results showing a glimpse of recovery, inflation still remains a major concern for businesses across manufacturing and services.
"Our survey results show the economy is making progress, despite the numerous challenges it has faced," said John Longworth, director general of the BCC. "Although the improvements we have seen are slight, it is progress nonetheless, and highlights the determination and ability of the businesses we have here in the UK."
Keep up the good work small businesses of Britain. Here's to another resilient year!
*Photo courtesy of Images_of_Money