According to the reliably informed Business trends report from the BDO, optimism is returning to the economy after slumping to a three-year low in the immediate wake of Brexit.
This verifies news of the British economy stabilising after the post-Brexit slump, indicating that the fears of Remain voters are somewhat wayward, as the economy is heading for a boom.
Full reports are expected to be released this week, along with more record official employment figures, reportedly.
Furthermore, other data has suggested that UK trade from outside the EU was souring. Subsequently, Michael Gove has said that Brexit economic advisers have “egg on their faces”.
The BDO Optimisim Index gas revealed that growth was up to 98.7, compared with 97.9 in July, which is soundly above the 95.0 that would indicate recession. The BDO are confident that the figure is heading towards the 100 mark that was achieved last summer.
BDO’s Output Index is also predicting that the country’s Gross Domestic Product will be good for the next three months.
Overall, it appears the British Economy is bouncing back and resuming normality after a few uncertain months following Brexit.
This is also good news for job creation, as the Conservative Party seeks to boast their record employment figures.
BDO’s Employment Index, which documents businesses’ willingness to hire staff, remained at 100.9, more than normal.
“After the immediate Brexit scare, businesses are becoming more confident as they start to find that, for most of us, it’s back to business as usual,” said Peter Hemington, a partner at BDO.
"But ongoing uncertainty and the likely longer-term damage if we exit the single market, are concerns which continue to justify government support for growth.”