Menu
05/03/2012
UK Economy Faces 'Serious Challenges'
The economy is still facing "serious challenges", and it is predicted that unemployment will increase to almost three million next year.
According to research by the British Chambers of Commerce (BCC) debt levels are still too high and they have downgraded their prediction for UK GDP growth in 2012 to 0.6% (from 0.8%) - lower than GDP growth in 2011 of 0.8%.
Although growth will be slower in 2012 than the previous year, BCC’s forecast predicts growth of 1.8% in 2013, when prospects will improve.
Meanwhile the organisation also claims that a double-dip recession will be avoided, but that the Chancellor must “pull out the stops” to enable businesses to drive growth in the UK.
(LB/GK)
According to research by the British Chambers of Commerce (BCC) debt levels are still too high and they have downgraded their prediction for UK GDP growth in 2012 to 0.6% (from 0.8%) - lower than GDP growth in 2011 of 0.8%.
Although growth will be slower in 2012 than the previous year, BCC’s forecast predicts growth of 1.8% in 2013, when prospects will improve.
Meanwhile the organisation also claims that a double-dip recession will be avoided, but that the Chancellor must “pull out the stops” to enable businesses to drive growth in the UK.
(LB/GK)
Related UK National News Stories
Click here for the latest headlines.
03 May 2012
UK Economy Will Pick Up In 2012, Says CBI
The UK economy will see growth resume in the second half of 2012, with faster GDP growth during 2013, according to the latest quarterly CBI economic forecast. The CBI expects GDP growth in 2012 will be 0.6%, slightly down from its forecast in February of 0.9%. This is a direct consequence of the preliminary ONS figure for quarter one.
UK Economy Will Pick Up In 2012, Says CBI
The UK economy will see growth resume in the second half of 2012, with faster GDP growth during 2013, according to the latest quarterly CBI economic forecast. The CBI expects GDP growth in 2012 will be 0.6%, slightly down from its forecast in February of 0.9%. This is a direct consequence of the preliminary ONS figure for quarter one.
10 January 2014
Sharp Increase In Online Christmas Sales - BRC
New data has revealed there was a surge in online shopping in the run up to the Christmas period. The survey, published by the British Retail Consortium (BRC), said that an increasing use of tablets and smartphones, as well as fast delivery times added to the sharp rise in online shopping before Christmas.
Sharp Increase In Online Christmas Sales - BRC
New data has revealed there was a surge in online shopping in the run up to the Christmas period. The survey, published by the British Retail Consortium (BRC), said that an increasing use of tablets and smartphones, as well as fast delivery times added to the sharp rise in online shopping before Christmas.
13 February 2012
Uncertainty Means Economic Recovery Will Remain Subdued
Growth will restart in 2012, but high levels of uncertainty around the economic outlook, mainly driven by the situation in the euro area, mean growth will remain subdued, particularly in the first half of this year. The CBI expects 0.9% GDP growth in 2012, a little down from November’s forecast (1.
Uncertainty Means Economic Recovery Will Remain Subdued
Growth will restart in 2012, but high levels of uncertainty around the economic outlook, mainly driven by the situation in the euro area, mean growth will remain subdued, particularly in the first half of this year. The CBI expects 0.9% GDP growth in 2012, a little down from November’s forecast (1.
17 January 2012
Premier Foods Predicts 5% Job Losses
A major UK food supplier has announced it is to lay off around 600 workers as it prepares to face a tough 2012. Publishing its growth plan for the coming year, Premier Foods said it would be doubling its savings projections, attempting to cut £40 million of spend by 2013 by creating a "stronger and more efficient business".
Premier Foods Predicts 5% Job Losses
A major UK food supplier has announced it is to lay off around 600 workers as it prepares to face a tough 2012. Publishing its growth plan for the coming year, Premier Foods said it would be doubling its savings projections, attempting to cut £40 million of spend by 2013 by creating a "stronger and more efficient business".
21 January 2013
£2bn Increase In Mortgage Lending In 2012
Gross UK mortgage lending in the UK reached a total of £143bn in 2012, with £11.7bn being lent in December alone. According to the Council of Mortgage Lenders (CML) the total is £2bn higher than 2011, and greater availability of mortgages at cheaper rates at the end of the year mean a continued pick-up is expected.
£2bn Increase In Mortgage Lending In 2012
Gross UK mortgage lending in the UK reached a total of £143bn in 2012, with £11.7bn being lent in December alone. According to the Council of Mortgage Lenders (CML) the total is £2bn higher than 2011, and greater availability of mortgages at cheaper rates at the end of the year mean a continued pick-up is expected.
-
Northern Ireland WeatherThis Evening and Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Perhaps a touch of ground frost. Cloud will spread east towards morning. Minimum temperature 2 °C.
