The UK is bucking a near-universal global decline by boasting the best confidence in its local economies - even more so than economic powerhouse Germany.
Reported by 4-traders.com, research from Sage Group found that UK business owners' confidence in their local market grew from 44.91 in March 2012 to 45.44. This marks a complete contrast from the global level of confidence which fell from 47.26 to 42.47 in the same period.
In addition, the 1,530 UK respondents were also some of the most optimistic about their individual business' prospects over the next six months (58.46) - the highest level since the Business Index began in 2011, reports freshbusinessthinking.com.
Overall, it seems that UK firms are prospering in austerity, especially as 81 per cent of those surveyed believe they have successfully adapted to the current economic climate.
Brendan Flattery, CEO of Sage UK and Ireland, commented on the figures: "While it remains an incredibly challenging environment for businesses around the globe, the fact that UK business confidence levels have overtaken those in Europe's largest economy is a significant milestone.
"It remains to be seen whether the UK is technically out of recession, but with over two thirds of respondents reporting solid revenue performance ahead of what is the most profitable time of year for many, the signs are encouraging," he added.
