Inflation Holding Steady

Inflation Holding Steady

Reacting to the latest ONS data on inflation, David Bharier, Head of Research at the BCC, said:    “Today’s data indicating a 2% increase in the CPI rate shows the UK is exiting its three-year inflation crisis and makes a bank rate cut more likely.    “Our own indicator, tracking…

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Quarterly Recruitment Outlook: Construction Suffers As Hiring Difficulties Rise

• Businesses report recruitment was more difficult in Q2, with more firms facing problems hiring staff • 74% of firms that attempted to recruit over the past three months faced challenges hiring • Construction and engineering firms are the most likely to be facing recruitment problems (82%) • 59% of…

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UK Growth Better Than Expected

Responding to the latest GDP figures published this morning by the ONS, David Bharier, Head of Research at the British Chambers of Commerce, said:    “The UK has had a strong start to the year and today’s data showing 0.9% growth in GDP in the three months to May is better…

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BCC: READY TO WORK IN PARTNERSHIP WITH LABOUR GOVERNMENT

Director General of the BCC, Shevaun Haviland, has congratulated Labour on its decisive general election victory and pledged to work in partnership with the new Government to boost the economy.       She made the promise after Prime Minister, Rishi Sunak, officially conceded the election result this morning, and said:     …

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BCC DIRECTOR GENERAL SHEVAUN HAVILAND: STOP TREADING ON EGGSHELLS AROUND EU TRADE

Director General of the BCC, Shevaun Haviland, has urged the next Government to stop treading on eggshells around trade with the EU if it wants to grow the UK economy. She will make the plea at the British Chambers of Commerce (BCC) Global Annual Conference 2024 on Thursday June 27.…

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Scottish firms less likely to report skills shortages compared with UK, but businesses lack confidence in AI and green technologies

· While over half (56%) of organisations in Scotland continue to struggle with skills gaps, this is lower than UK average of 62% · Around half of businesses lack the confidence to adopt either AI (56%) or green technologies (47%) · Martha Lane Fox, Chancellor of The Open University, and…

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Bank Seeks Further Evidence Before Rate Cut

Reacting to the Bank of England’s latest interest rate decision, David Bharier, Head of Research at the British Chambers of Commerce, said: “Today’s decision was widely expected, and it’s clear the Bank of England is taking a cautious approach before making a much-anticipated rate cut. “Yesterday’s data showing CPI inflation…

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Inflation at Target Raises Rate Cut Hopes

Responding to the latest inflation data published by ONS, David Bharier, Head of Research at the British Chambers of Commerce, said: “Today’s data showing CPI easing to the Bank of England’s 2% target, is a further sign that the UK is exiting the inflation crisis which began in late 2020.…

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BCC Economic Forecast

The British Chambers of Commerce (BCC) Quarterly Economic Forecast has slightly upgraded growth expectations for 2024 and 2025, following a stronger start to the year. However, the forecast for 2026 remains unchanged. UK Economic Outlook   The UK economy is expected to continue its recovery after the short recession at the…

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Clear Action Needed to Help Firms Navigate Digital Future

The British Chambers of Commerce has launched its Digital Revolution report outlining a framework to create a connected, dynamic and secure future for UK businesses.  Among the recommendations are:  Government should appoint an AI champion for SMEs who will help spearhead a programme to improve business use of artificial intelligence.  Government…

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