Menu
03/04/2012
UK Economy Improving, But Growth Still Slow
The UK economy has shown a few signs of improvement in the first three months of this year, the British Chambers of Commerce (BCC) has said.
The BCC's new Quarterly Economic Survey (QES) released today shows encouraging results for Q1 2012, with most balances recording increases on the last quarter.
QES, comprising almost 8,000 responses from businesses across the UK, shows a welcome improvement on the results of Q4 2011 which pointed towards stagflation.
But the UK economy "is still facing huge challenges and the recovery is much too slow", the BCC said.
In a statement they said: "While the results are more encouraging than the previous quarter, they show that growth is still too weak, with the balances still below those seen in 2007 before the recession. Many manufacturing balances are now at a satisfactory level, but the service sector balances are sluggish."
However the group expects a economic growth of 0.3% in the first quarter of 2012, which would mean the UK would avoid a technical recession - defined as two consecutive quarters of contraction.
Commenting on the results, John Longworth, Director General of the BCC, said: "It’s encouraging to see that businesses are feeling more confident at the start of 2012 than they were at the end of 2011. But that underlines the need to support and foster growth and investment by companies to ensure that the increases we have seen in the first quarter continue.
"The UK economy is still facing huge challenges and the recovery is much too slow. The UK has the potential to recover, but to achieve that the government has to set businesses free to grow."
(LB/GK)
The BCC's new Quarterly Economic Survey (QES) released today shows encouraging results for Q1 2012, with most balances recording increases on the last quarter.
QES, comprising almost 8,000 responses from businesses across the UK, shows a welcome improvement on the results of Q4 2011 which pointed towards stagflation.
But the UK economy "is still facing huge challenges and the recovery is much too slow", the BCC said.
In a statement they said: "While the results are more encouraging than the previous quarter, they show that growth is still too weak, with the balances still below those seen in 2007 before the recession. Many manufacturing balances are now at a satisfactory level, but the service sector balances are sluggish."
However the group expects a economic growth of 0.3% in the first quarter of 2012, which would mean the UK would avoid a technical recession - defined as two consecutive quarters of contraction.
Commenting on the results, John Longworth, Director General of the BCC, said: "It’s encouraging to see that businesses are feeling more confident at the start of 2012 than they were at the end of 2011. But that underlines the need to support and foster growth and investment by companies to ensure that the increases we have seen in the first quarter continue.
"The UK economy is still facing huge challenges and the recovery is much too slow. The UK has the potential to recover, but to achieve that the government has to set businesses free to grow."
(LB/GK)
Related UK National News Stories
Click here for the latest headlines.
14 May 2014
Unemployment Rate Falls To A New 5-Year Low - ONS
Employment has seen the largest quarterly rise since records began over 40 years ago and the unemployment rate has fallen again to a new 5-year low, according to figures published by the Office for National Statistics (ONS). The number of people in a job rose 283,000 in the last 3 months – the largest quarterly increase in 43 years.
Unemployment Rate Falls To A New 5-Year Low - ONS
Employment has seen the largest quarterly rise since records began over 40 years ago and the unemployment rate has fallen again to a new 5-year low, according to figures published by the Office for National Statistics (ONS). The number of people in a job rose 283,000 in the last 3 months – the largest quarterly increase in 43 years.
17 October 2003
BCC warns of dangers of UK's two-speed economy
A British Chambers of Commerce (BCC) report released today has warned that the UK has a developed into a two-speed economy, with the gap between manufacturing and services widening. According to the results of its Q3 2003 Quarterly Economic Survey, manufacturing suffered a sharp downturn whilst the service sector experienced a welcome rebound.
BCC warns of dangers of UK's two-speed economy
A British Chambers of Commerce (BCC) report released today has warned that the UK has a developed into a two-speed economy, with the gap between manufacturing and services widening. According to the results of its Q3 2003 Quarterly Economic Survey, manufacturing suffered a sharp downturn whilst the service sector experienced a welcome rebound.
17 February 2011
Green Economy Council Rise To The Low Carbon Challenge
The Green Economy Council has held its first meeting to discuss how government and industry can work together to support the transition to a green, low carbon economy and minimise the costs for business while maximising the opportunities.
Green Economy Council Rise To The Low Carbon Challenge
The Green Economy Council has held its first meeting to discuss how government and industry can work together to support the transition to a green, low carbon economy and minimise the costs for business while maximising the opportunities.
05 September 2008
PM Rules Out Fuel Payments
The Prime Minister's decision to rule out cash handouts to households struggling with rising fuel bills has been strongly criticised by trade unionists. Gordon Brown was expected to announce that each household would receive up to £100 to help with energy costs after speaking with power companies.
PM Rules Out Fuel Payments
The Prime Minister's decision to rule out cash handouts to households struggling with rising fuel bills has been strongly criticised by trade unionists. Gordon Brown was expected to announce that each household would receive up to £100 to help with energy costs after speaking with power companies.
06 July 2010
UK Economy Continues To Grow
The UK economy saw further growth in the second quarter of this year, according to the latest Economy Survey from the British Chambers of Commerce (BCC). Employment expectations, investment plans, export orders, and domestic sales, in both the manufacturing and service sectors, made gains in Q2.
UK Economy Continues To Grow
The UK economy saw further growth in the second quarter of this year, according to the latest Economy Survey from the British Chambers of Commerce (BCC). Employment expectations, investment plans, export orders, and domestic sales, in both the manufacturing and service sectors, made gains in Q2.
-
Northern Ireland WeatherThis Evening and Tonight:It will be cloudy with a spell of heavy rain pushing south through late evening and the early hours, soon followed by some clear spells. Minimum temperature 6 °C.
