UK growth is looking good

So the UK economy is recovering nicely.

Its growth is one of the highest in the Western world.

Business confidence is at its highest for ten years according to a survey by the Institute of Chartered Accountants.

This is excellent news for the country and, of course, for the Government and Chancellor George Osborne. However, the latter might come under pressure to share some of this recovery wealth with taxpayers, many of whom will not recognise this apparent good news story.

The third quarter showed growth at 0.8% in the UK, and Christmas spending, good demand in construction, and increasing business investment could produce a fourth quarter figure of 1.3%. Time will tell.

In the meantime, heads down, let's keep the growth going.

Lack of optimism for business growth

Context is an organisation which analyses distribution sales and pricing in 35 countries. Its chief executive, Jeremy Davies, reckons the "jury is out" in the UK over the government's proposed cuts, CRN Channelweb.co.uk reports.

"In terms of overall UK business," he said, "we are not back to pre-crisis levels; in fact, we are still down from pre-crisis levels." He said that, although there had been a pick up at the start of the year when the recession was techincally over. the effect of cuts on the well-being and morale of UK businesses should not be underestimated.

Mr Davies thinks it is likely that businesses will look at budgets and go into "lockdown mode". How wider consumers will react is also unknown, but Christmas may see a boost (as it usually does), as people take advantage before VAT rises to 20% in January.

Sectors showing growth include telecomms, PC components, printer consumables, computers and storage.

However, it is smartphones that are the biggest success story of 2010, with a whopping 339.4 % growth.

If you're in the right markets, you can still make it big!