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News Tag: BCC

October 11, 2011

BCC downgrades UK economic growth

by Kay Mitchell
”BCC
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 today: “Given the worsening international situation and the ...




September 1, 2011

BCC revises UK economic growth forecast

by Kay Mitchell
”BCC
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 2.1% in 2012 – slightly lower than ...




July 11, 2011

BCC survey reveals fragile economic recovery

by Kay Mitchell
”BCC
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 on the findings, BCC chief economist David Kern, ...




May 30, 2011

BCC revises growth prospects for UK economy

by Kay Mitchell
”BCC
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 roughly in line with last week’s forecast ...




April 5, 2011

BCC survey suggests worrying outlook for UK economy

by Kay Mitchell
”BCC
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 one of the bright spots in ...




March 8, 2011

BCC urges Bank to keep rates on hold this month

by Kay Mitchell
’BCC
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 Bank not to ...




January 11, 2011

BCC: Economic growth to slow in Q4

by Kay Mitchell
”BCC:
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 Monetary Policy Committee (MPC) may look to ...




December 29, 2010

BCC survey reveals 2011 pay freeze for many companies

by Kay Mitchell
”BCC
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 cited a “tough environment" for ...




December 5, 2010

BCC revises its forecast for UK economic growth

by Kay Mitchell
”BCC
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. As a result, the BCC is ...




October 27, 2010

BCC’s David Frost to stand down

by Kay Mitchell
...




October 12, 2010

BCC calls for more stimulus to withstand harsh cuts

by Kay Mitchell
”BCC
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 them extra capital. Over recent ...




July 6, 2010

BCC: Slow services sector activity could hamper growth

by Kay Mitchell
”BCC:
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, the UK’s key service sector presents ...




June 18, 2010

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

by Kay Mitchell
”Business
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 selling ...




May 30, 2010

BCC warns of new double-dip risk

by Kay Mitchell
”BCC
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. Last week, Chancellor George Osborne unveiled details of ...




April 26, 2010

BCC survey finds firms fear hung parliament

by Kay Mitchell
”BCC
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 potential impact on their business if there ...




April 9, 2010

NIESR: UK to see positive growth in Q1

by Kay Mitchell
”NIESR:
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 growth in the first three ...




April 7, 2010

Double-dip recession avoided in first quarter

by Kay Mitchell
”Double-dip
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 services sector helped GDP to grow in the ...




March 17, 2010

Barings warns of increased risk of double dip

by Kay Mitchell
”Barings
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 fall back into recession, ...




March 7, 2010

Threat of ‘double dip’ recession remains

by Kay Mitchell
”Threat
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 have expressed concern for a double-dip recession (whereby ...




January 12, 2010

BCC survey reveals UK on verge of exiting recession

by Kay Mitchell
”BCC
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 on 26 January will ...