Businesses bullish on UK growth but wary of reliance on consumers

British Chambers of Commerce upgrades growth forecast despite slowdown in investment but warns of dependence on consumer spending and rising imports

Strong consumer spending and the performance of the dominant service sector have made Britain's businesses increasingly confident about their prospects over the next two years, according to the British Chambers of Commerce.

In its quarterly health check of the economy, the BCC said it was upgrading its growth forecast for the next two years amid signs that its members were shrugging off international uncertainty and concerns about the outcome of the general election in May.