UK business optimism reached its highest level for 22 years in January, indicating that the economy will continue to grow rapidly over the coming six months
The Optimism Index, which predicts business performance two quarters ahead, reached 103.8 in January, up from 103.4 in December. This is the highest reading ever recorded since readings began 22 years ago and sits well above the 100.0 mark, meaning the UK is expected to outperform its long-term historical growth trend
The Employment Index rose to 101.3, up from 99.4 the previous month. The index now stands at its highest level since August 2008 and above the crucial 100.0 mark for the first time since March 2011, signalling that UK job creation is likely to exceed trend growth over the coming months
The Inflation Index read 97.9 in January, its lowest level since November 2009 and down from 98.7 at the end of last year.