- Sentiment in the private sector is consistent with the economy growing by 0.4pc in the current quarter, according to the latest quarterly business confidence monitor from ICAEW/Grant Thornton.
- Their index has climbed over the last three months to a positive reading of 12.8 from 4.2 - where anything over zero shows an improvement in business confidence - signalling sentiment is at its highest in almost two years.
- If the data is correct in pointing to the UK’s return to economic expansion over January to March, that would mean the economy has avoided sliding back into recession – defined as two quarters of negative growth – after shrinking by 0.3pc at the end of last year.
Print 07:17, 04 Feb 2013 - Economic commentary - Source: Telegraph
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