New confidence for UK retailers

UK retailers and businesses are seeing an improved confidence a new survey suggests. The BBC reported the quarterly Business Confidence Monitor, released by a professional body for accountants, says confidence is at its highest level since 2010.

It also forecasts stronger economic growth in the second quarter, meaning fashion retailers could see a rise in sales figures.

Official estimates suggest the economy grew by 0.3 percent in the first three months of the year. The accountants' trade body, ICAEW, said improved business confidence would boost the economy further, and they forecast growth of 0.6 percent in the second quarter.

"There is a gradual improvement in the economy and the recovery is starting to stand on more solid ground," said Michael Izza, chief executive of ICAEW.

"We should not be complacent though. There is still a degree of fragility and the economy is susceptible to knock-backs from events outside the UK."

Business confidence stood at its highest level since the third quarter of 2010. Confidence was up across all sectors, and in all parts of the country, the survey indicated.

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