London firms confident about their prospects

Confidence among the capital's businesses is back to its strongest level since before the recession, the London Chamber of Commerce and Industry said today.

The LCCI's latest quarterly economic survey found a majority of firms in London are now looking forward to brighter prospects in the months ahead for the first time since Northern Rock was nationalised in February 2008.

Confidence wobbled in the summer, but businesses reported a strong upturn in sales and orders during the final three months of the year.

More than a third of firms reported higher domestic sales - up from 22% between July and September - while over a half are expecting to boost profits.