Britain will be the west's fastest growing economy in 2014, according to a new report.

The UK Business Confidence Monitor, put together by accountants Grant Thornton and the Institute of Chartered Accountants in England and Wales (ICAEW), predicts 1.3% growth in the final quarter of 2014.

The report says recovery is happening among both business and consumer sectors, with companies expecting growth in business investment and exports next year.

It follows a preliminary report from the Office for National Statistics (ONS) which, based on 40% of the available data, suggests the UK economy grew by 0.8% in the three months to the end of September.

Michael Izza, chief executive of ICAEW, said that, "This quarter's report shows that the UK economic recovery is well under way."

Written and presented by Alfred Joyner