CONFIDENCE in the economy is at its highest level since records began in the 1970s and unemployment is set to dive to 6.6 per cent this year, according to a raft of upbeat data out today.
The Bank of
The booming start to the year was underlined by
The proportion expecting a downturn is at a five-year low of 24 per cent. It comes after accountants
That rate would be more than double the 0.7 per cent growth in the final quarter of 2013 and the fastest pace in more than a decade.
Even the more cautious estimates from think-tank Niesr put
Niesr expects unemployment to fall to 6.6 per cent this year, well below the Bank of
Job vacancies soared to a 15-year high last month, according to
Meanwhile the surge in car sales continued into January, with 154,562 new cars registered, up 7.6 per cent from the same month last year.
It comes after growth of 10.8 per cent in 2013, according to the
However, there is a note of concern that the sheer pace of the boom could hide some instabilities.
"IoD members are feeling increasingly confident about the year ahead, with the majority expecting revenue and profits to be higher in 2014 than the previous 12 months," said
"However, we are worried that the recovery remains too dependent upon consumer spending."
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