UK Economy Stuck On a Low-Growth Treadmill

UK Economy Stuck On a Low-Growth Treadmill

Responding to the latest GDP figures published this morning, David Bharier Head of Research at the British Chambers of Commerce said:     “Today’s data confirms once again that the UK economy is stuck on a low-growth treadmill. With GDP growth of 0.2% in the three months to February, and 0.1%…

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BCC Quarterly Economic Survey: Firms Treading Water on Investment

No overall improvement in business conditions in Q1 2024 as measured by investment, sales and cashflow. Levels of business confidence remain unchanged, with 56% of UK businesses expecting an increase in turnover in the next twelve months. Almost half of firms are expecting the price of their goods or services…

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Access To Finance Challenge for SMEs

Accessing finance is becoming more difficult for a large number of SMEs, according to new data from the British Chambers of Commerce Insights Unit.  Around half (49%) of business surveyed who accessed finance felt that getting funding had become more challenging over the past three years.  Only 13% said it…

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Government Fails To Listen On Costly Import Charges

Reacting to details of the common user charge being introduced on animal and plant product imports into the UK later this month, William Bain, Head of Trade Policy at the British Chambers of Commerce said:    “This is an extremely disappointing decision by Defra on the common usage charge. The…

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Interest Rate Waiting Game Continues

“Today’s decision to hold interest rates at 5.25% was widely expected. However, it prolongs the period of uncertainty for firms grappling with high borrowing costs.     “Our recent survey of more than 1,000 UK businesses found a third of report a direct negative impact of the current rate, while around…

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Easing of Inflation Gives Some Relief

Responding to the latest inflation figures from the ONS, David Bharier, Head of Research at the British Chambers of Commerce, said:      “Today’s easing of the CPI rate to 3.4% will give businesses and consumers some sense of relief. At 4.5%, core inflation has also slowed, and the producer price…

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Pressure Of Interest Rates On Business Revealed

BCC survey of more than 1,000 UK businesses finds one third (33%) are negatively impacted by the current Bank of England interest rate. Small and mid-sized firms (39%), manufacturers (36%) and business to consumer firms (37%) are more likely to report a negative impact. Just one in 10 firms (9%)…

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Weak Start To 2024 For UK Exports

Responding to the latest Office for National Statistics data on UK trade for January, William Bain, Head of Trade Policy at the BCC, said: “There was a slow start to the year in export volumes for both goods and services, with a modest rise in volumes of goods imports.  But…

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Rocky Path Ahead In Search For Sustained Growth

Reacting to the latest GDP figures published this morning, David Bharier, Head of Research at the British Chambers of Commerce said:    “Today’s data, showing an estimated 0.1% decline in GDP in the three months to January is further evidence that the UK economy remains in a precarious state. However,…

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Mixed Signals On Labour Market Continue

Responding to the latest labour market data from the ONS, Jane Gratton, Deputy Director Public Policy at the British Chambers of Commerce, said:          “With wages continuing to outpace inflation, alongside high levels of economic inactivity – including long-term sickness, the picture for businesses trying to recruit remains challenging.   …

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