BCC pours cold water on 'sustained' UK recovery

clock

The British Chamber of Commerce (BCC) says the UK economy continued to grow in the second quarter of this year, but warns the country must not "kid" itself the recovery is secure.

Based on data collected from 5,600 businesses across the UK, the organisation predicts growth for the three months to the end of June of between 0.6% and 0.7%. However, it warns serious concerns over a sustained recovery remain. David Frost, director general of the BCC, says: "With very austere times ahead, no one should kid themselves into thinking that the UK's economic recovery is totally secure." According to the BCC, the service sector presents the biggest concern. The BCC's members reported sluggish growth in retail and services, which account for around three quarters o...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

'Discussion-worthy stuff': Chinese assets under pressure

'Discussion-worthy stuff': Chinese assets under pressure

China has an 18% share of global GDP and only a 3% MSCI ACWI weighting

Chris Justham
clock 02 April 2024 • 2 min read
Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read