Tag: BCC

BCC downgrades UK economic growth

BCC downgrades UK economic growth

The British Chambers of Commerce (BCC) has today said the fresh round of quantitative easing (QE) announced by the Bank of England last week may not be enough to prevent the economy from slipping back into recession and “more radical measures” are required. BCC Chief Economist David Kern said in an e-mailed statement in London […]

October 11, 2011 More
BCC revises UK economic growth forecast

BCC revises UK economic growth forecast

The British Chambers of Commerce (BCC) has today revised its growth prospects for the UK economy. The lobby group is now forecasting growth of just 1.1% this year, down from its 1.3% forecast in June and much lower than the 1.9% it estimated at the start of the year. Meanwhile, it is expecting growth of […]

September 1, 2011 More
BCC survey reveals fragile economic recovery

BCC survey reveals fragile economic recovery

A quarterly survey by the British Chambers of Commerce (BCC) revealed that the UK economy was “fragile”. The BCC’s survey for the three months to the end of June showed a slow recovery and estimates that the economy grew by 0.3% in the period – slower than the 0.5% growth in the first quarter. Commenting […]

July 11, 2011 More
BCC revises growth prospects for UK economy

BCC revises growth prospects for UK economy

Leading business group, the British Chambers of Commerce (BCC), has downgraded its growth prospects for the UK economy. The BCC now expects the economy to grow by 1.3% this year, slightly lower than a previous forecast of 1.4%. The figures are much lower than the 1.7% expected by the Office of Budget Responsibility but are […]

May 30, 2011 More
BCC survey suggests worrying outlook for UK economy

BCC survey suggests worrying outlook for UK economy

According to the latest Quarterly Economic Survey from the British Chambers of Commerce (BCC), the recovery remains fragile. The survey, which polled 6,000 firms, found that companies still face cash flow problems and 80% of manufacturers said the cost of raw materials means they are under pressure to lift prices. The manufacturing sector has been […]

April 5, 2011 More
BCC urges Bank to keep rates on hold this month

BCC urges Bank to keep rates on hold this month

Leading business group, the British Chambers of Commerce (BCC), is urging the Bank of England not to increase interest rates this week. The Monetary Policy Committee (MPC) will commence its two-day meeting tomorrow and while many have called on the Bank to hike rates to combat stubbornly high inflation, the BCC is calling on the […]

March 8, 2011 More
BCC: Economic growth to slow in Q4

BCC: Economic growth to slow in Q4

The British Chambers of Commerce (BCC) has today warned of a fragile economic recovery in the UK with growth expected to slow in the final quarter of 2010. There has been suggestions that economic growth will be severely hampered because of the Government’s massive spending cuts. There is a possibility that the Bank of England’s […]

January 11, 2011 More
BCC survey reveals 2011 pay freeze for many companies

BCC survey reveals 2011 pay freeze for many companies

The British Chambers of Commerce (BCC) has revealed more than half of UK firms will either slash or freeze employee’s pay in 2011. The survey, which covered 450 businesses, found 45% of firms would give their staff a pay rise, 49% said they would freeze wages, while 6% said they planned to cut salaries. Companies […]

December 29, 2010 More
BCC revises its forecast for UK economic growth

BCC revises its forecast for UK economic growth

The British Chambers of Commerce (BCC) has revised its forecast for UK economic growth, in light of austerity measures, the euro zone debt crisis, the VAT hike and the weak housing market. Many experts and business organisations have said the tough austerity measures, introduced by the Government to trim the deficit, will undoubtedly hit growth. […]

December 5, 2010 More
BCC’s David Frost to stand down

BCC’s David Frost to stand down

October 27, 2010 More
BCC calls for more stimulus to withstand harsh cuts

BCC calls for more stimulus to withstand harsh cuts

The British Chambers of Commerce (BCC) today echoed other reports and suggested the Bank of England needs to inject more money into the economy, via its quantitative easing (QE) scheme. QE, also known as printing money, is a process whereby the Treasury injects funds into the financial system to ease pressure on banks by giving […]

October 12, 2010 More
BCC: Slow services sector activity could hamper growth

BCC: Slow services sector activity could hamper growth

A survey by the British Chambers of Commerce (BCC) has revealed the UK economy is likely to have grown in the second quarter but serious concerns remain. The lobby group, which surveyed 5,600 businesses across the country, is forecasting growth of between 0.6% and 0.7% for the three months to the end of June. However, […]

July 6, 2010 More
Business group urges Chancellor not to raise taxes in next week’s budget

Business group urges Chancellor not to raise taxes in next week’s budget

Chancellor George Osborne will unveil his emergency budget next week and tax hikes are expected. However, according to business group, the British Chambers of Commerce (BCC), “punishing” tax rises could hit economic growth. A rise in capital gains tax (CGT) is expected. This is the levy firms or individuals pay on the profit gained from […]

June 18, 2010 More
BCC warns of new double-dip risk

BCC warns of new double-dip risk

The British Chambers of Commerce (BCC) has warned there is a risk of a double-dip recession (whereby the economy goes into recession twice without having undergone a full recovery in between). The warning from the business group comes as it said the Government should delay making big spending cuts as the recovery is still weak. […]

May 30, 2010 More
BCC survey finds firms fear hung parliament

BCC survey finds firms fear hung parliament

A survey conducted by the British Chambers of Commerce (BCC) has found that firms are fearful about a hung parliament after the general election. A hung parliament (in which no one political party has an outright majority) would make it harder to pass legislation and undermine a fragile UK recovery. Firms are worried about the […]

April 26, 2010 More
NIESR: UK to see positive growth in Q1

NIESR: UK to see positive growth in Q1

Influential think tank, the National Institute of Economic and Social Research (NIESR), said the UK economy avoided a double-dip recession in the first quarter of 2010 and is expected to see growth of 0.4%. However, official figures for quarter one GDP will not be published until April 23 but it appears many are optimistic for […]

April 9, 2010 More
Double-dip recession avoided in first quarter

Double-dip recession avoided in first quarter

Leading business group, the British Chambers of Commerce (BCC), has today said it has concerns for the UK economy but the recovery is “still on course”. The BCC’s survey of more than 5,500 businesses showed that manufacturing sales were struggling, while new orders remained in decline. However, the business group said growth within the key […]

April 7, 2010 More
Barings warns of increased risk of double dip

Barings warns of increased risk of double dip

The latest global economic research by Baring Asset Management’s (Barings) suggests that of the major global economies, the UK looks most vulnerable to a renewed dip into recession. According to Barings, there is a slightly higher risk of the UK falling back into recession than there was a few weeks ago. However, should the UK […]

March 17, 2010 More
Threat of ‘double dip’ recession remains

Threat of ‘double dip’ recession remains

Leading business group, the British Chamber of Commerce (BCC), has warned that the UK economy faces a “high risk of a relapse“. The UK economy emerged from recession in the fourth quarter of 2009 by experiencing growth of just 0.3%. However, all economists and reports have suggested that the recovery will be fragile, while others […]

March 7, 2010 More
BCC survey reveals UK on verge of exiting recession

BCC survey reveals UK on verge of exiting recession

In its economic survey for the fourth quarter of 2009, the British Chambers of Commerce (BCC), said the UK economy appears to be “on the brink of leaving recession”. The UK has been lagging behind other economies and is now the last major economy that is still in recession. Official figures due to be released […]

January 12, 2010 More