The UK’s medium sized businesses are more confident than their counterparts in the US, Germany, Australia and Japan, according to a survey by American Express.

Data from mid-market businesses around the globe – defined as having revenue between £3 million and £600 million – shows that nearly half of UK firms expect to experience growth in the second half of 2014.

Meanwhile, two-thirds have increased sales and nearly the same number – 62 per cent – have added new recruits this year already. In further a sign of confidence, more than six in 10 businesses are exporting to global markets, with key markets of US, China and India.

Brendan Walsh at Amex said: “This survey clearly sees a return to prosperity for UK companies and the economy.

“The mid-sized company sector is the engine room of Britain’s economy, and its resounding commitment to invest to fuel further growth this year is another in a long series of good news headlines for UK PLC.”