Live news: UK survey finds highest business confidence in 12 months

Business confidence in the UK rose to its highest level in 12 months, according to a quarterly index monitored by Accenture and S&P Global.

A reading of plus 43 per cent, the net balance of manufacturing and service sector companies expecting activity, marked a boost in sentiment from the plus 18 per cent registered in the previous survey.

UK companies were more confident than most European peers, with levels of optimism nearly double the average seen in the eurozone.

Separately, BDO’s Business Trends Report said growth in output and decelerating inflation boosted UK business confidence in February as recruitment activity increased.