UK is fastest-growing Western economy

The British economy is growing faster than that of any other country in Western Europe, according to the Institute of Chartered Accountants in England and Wales (ICAEW).

ICAEW’s monitor of business confidence suggests economic growth of 1.3% for the fourth quarter of 2013, and follows the CBI’s announcement that the UK economy is making a slow and steady recovery.

Michael Izza, chief executive of ICAEW, said: “This quarter’s report shows that the UK economic recovery is well under way.

“The shape of the recovery is changing as businesses respond to rising confidence by looking to new markets and increasing their investment plans.”

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