Business confidence at six-year high

Link: CBI expects UK economy to beat forecasts

The mid-tier firm conducted a weighted average of all recent economic surveys, which showed that its output index, which indicates GDP growth one quarter ahead, had risen by 0.9 points to 102.8 points, it highest in six years.

The survey also revealed that businesses are increasingly concerned about inflation, putting pressure on an increase in interest rates.

But the Bank of England is unlikely to raise interest rates for a third time in a matter of months, when its monetary committee meets this month.

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