BCC Warns Against Complacency

(Telegraph) – THE WORST OF THE RECESSION IS OVER, according to the British Chambers of Commerce’s (BCC) latest economic survey; but the business body warned that recovery was fragile and cautioned against complacency.

The results of the BCC’s survey of 5,600 businesses, released today, showed progress in the manufacturing and service sectors during the second quarter of the year as well as a marked improvement in confidence.

But business leaders pointed out that, despite improving since the last quarter, almost all critical measures remained negative with manufacturing cashflow sticking at -32 per cent — the lowest since records began.

The BCC also warns that the economy could risk another steep slide unless the government takes steps to sustain recovery.

David Kern, chief economist, said recovery was not guaranteed.

‘Even if we do get a recovery, it will be very shallow and very gradual — more L-shaped than W-shaped,’ said Mr Kern.

… (09/07/2009) – Bank Keeps Interest Rates On Hold

Advertisements

2 Responses

  1. […] … (07/07/2009) – BCC Warns Against Complacency […]

  2. […] this week, the British Chambers of Commerce (BCC) business group said that the worst of the UK’s recession was over, but added that talk […]

Comments are closed.

%d bloggers like this: