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Economy ‘is growing’
The UK economy continued to grow in the second quarter of the year, according to data released by the British Chambers of Commerce (BCC).
The BCC collected data from 5,600 businesses across the country and from this has predicted that the economy will grow between 0.6 and 0.7% in the second quarter of this year.
However, the report has raised serious concerns over a sustained economic recovery and said that the service sector presented the biggest worry.
Another more tangible problem is the rising cost of raw materials, cited by 80% of its manufacturing members as putting pressure on prices.
"On the whole these results are positive, especially in manufacturing, and they should offer encouragement that the UK's recovery remains on the right track," said David Frost of the BCC.
"We still have concerns about sluggish growth in the service sector, which emphasises why the government must continue to promote the best possible business environment, in order to help companies invest and grow."
Post Date: July 6th, 2010
The BCC collected data from 5,600 businesses across the country and from this has predicted that the economy will grow between 0.6 and 0.7% in the second quarter of this year.
However, the report has raised serious concerns over a sustained economic recovery and said that the service sector presented the biggest worry.
Another more tangible problem is the rising cost of raw materials, cited by 80% of its manufacturing members as putting pressure on prices.
"On the whole these results are positive, especially in manufacturing, and they should offer encouragement that the UK's recovery remains on the right track," said David Frost of the BCC.
"We still have concerns about sluggish growth in the service sector, which emphasises why the government must continue to promote the best possible business environment, in order to help companies invest and grow."
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Post Date: July 6th, 2010
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