KPMG: Business confidence doubles in a year

Nearly half of the senior executives polled in KPMG's National Business Survey think their prospects are good compared to just 22% in the first quarter.

But the spring survey revealed the lowest levels of optimism since the survey began in 2004. 37% of executives rated their prospects as poor at the time. This figure has since improved to 25%, the Telegraph reported.

Whether the economy has bottomed out is a contentious issue, KPMG head of markets Malcolm Edge said. 'Opinion is divided over whether the economy has dipped to its lowest point or whether worse is yet to come, with 55% believing the bottom of the cycle has been reached and 42% fearing we remain on the downward curve.'

Despite improved confidence, one in three businesses report that they are experiencing financial difficulties.