Two new pieces of research highlight that UK companies are confident in spite of entry into double dip recession.
Since mid 2011, optimism of smaller manufacturers has risen, according to thebusiness group CBI.
Moreover, the UK Business Confidence Monitor stated that confidence has improved in the past three months, intimating that the UK is going to return to growth in the April-June quarter.
The UK economy has shrunk in the last two quarters, which means we are back in a recession .
The CBI confirmed that 22 per cent of SME manufacturers stated that they were more optimistic in the three months leading April.
Most survey respondents has witnessed a small increase in total new orders and anticipate faster growth over the next quarter.
The most recent UK Business Confidence Monitor from chartered accountants ICAEW and consultants Grant Thornton stated that they see increased confidence, with anticipated economic growth of 0.6% in the second quarter.
Turnover and profits are increasing slightly, however, nowhere near the rates previously seen.