Confidence among UK businesses has now been increasing for six straight quarters, according to a snapshot of sentiment by an accountancy body.

The ICAEW said confidence was now at the highest level since it started measuring it, while investment growth was highest since 2008.

It is the latest is a lengthy series of reports and forecasts reflecting gathering strength in the UK economy.

Last week, a survey of 500 firms by insurance company Aviva showed that more than half expected improved growth in the first half of 2014.

In less welcome news, however, the ICAEW study also suggested growth in UK exports would fall back.

"The export figures are disappointing and show that the government's strategy is not working,” said the organisation’s chief Michael Izza.

"We would like to see an increase in export guarantees to match the scale that German companies benefit from."