Britain’s economy is poised for robust growth in the next quarter according to Birmingham-based business advisers BDO.
The latest Business Trends index by the firm revealed short-term business prospects continued to improve over the period and reached the highest level since March 2011.
BDO’s Output Index, which predicts short-run turnover expectations and reflects the current experience of businesses, climbed to a 29-month high of 98.3, up from 96.8 in July.
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The figure is close to the 100.0 mark that indicates long-run average trend growth and suggests the economy is poised to experience robust growth in the next quarter.
Output in the services sector, which makes up around three quarters of the 海角视频 economy, rose from 96.5 in July to 97.7 in August.
Business confidence also continued to rise. BDO’s Optimism Index, which predicts business performance in two quarters time, increased for the seventh consecutive month – from 95.6 in July to 98.0 in August – its highest level since May 2011.
But improving business conditions and confidence are not being matched by a pick-up in hiring intentions.
BDO’s Employment Index remained at the same 97.0 level as in July and has only moved up by 0.6 points in the last five months.
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Mark Anslow, partner and head of BDO LLP in Birmingham, said: “We’re encouraged to see the economy is set for relatively robust expansion for the remainder of 2013.”