UK ‘will be fastest growing economy in west’

<p>The UK’s economic recovery is expected to speed up.</p>

The UK's economic recovery is to hit a new gear and become the fastest in the west, according to a new report by accountancy group Grant Thornton.

Its regular monitor of business confidence showed the fourth quarter of 2013 will see economic growth of 1.3 per cent.

The report, produced in conjunction with the industry body ICAEW, explained this would make the UK's economic recovery the quickest in the western world.

Michael Izza, chief executive of ICAEW, noted the economic recovery in the UK is now "well underway", adding: "If it continues at this rate, the UK economy will be one of the fastest growing economies in the western world going into 2014."

Rising signs of business confidence were highlighted in the report, mirroring an upgraded economic forecast also released today by the Confederation of British Industry.

The body's latest predictions suggest that the UK's economic growth will rise to 2.4 per cent in 2014, backing up chancellor George Osborne's recent claim that the country has turned a corner.

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