GDP growth forecast

3rd June 2013

The British Chamber of Commerce has upgraded its GDP growth forecast from 0.

6% to 0.9% in 2013, from 1.7% to 1.9% in 2014, and from 2.2% to 2.4% in 2015. Commenting on the revised economic forecast, Richard Wright, executive director of Sheffield Chamber of Commerce said: -A growth forecast of 0.9 percent is better, but it's still not good enough, especially if we want to reverse the budget deficit and protect and create jobs. -The revised figures do seem more aligned to what we are seeing on the ground though. I have a number of members which are more positive and I do think we are getting better at trading outside Europe and America, as evidenced by our international trade documentation. -However, we need to be above two percent to really start making a difference, anything below that is just living with the increasing competitiveness of the world. -Control of spending, combined with targeted infrastructure investment - which underpins our ability to compete in the future and doesn't just "buy" short term jobs - are the fundamental requirements. -The Government is being very poor at giving a clear signal around energy strategy for instance. It isn't just about cost but around security of supply as well. If we get the right signal we could set about investing and getting work for our supply chains.

You might also be interested in

BCC responds to new tiered Coronavirus restrictions

Thu 26th November 2020

Commenting on the new tiered Coronavirus restrictions that will come into effect after the lockdown ends in England on December 2, BCC Director General Adam Marshall said:

BCC responds to the Chancellor’s Spending Review

Wed 25th November 2020

Commenting on the Chancellor’s Spending Review, BCC Director General Adam Marshall said:

Celebrating our arts and cultural organisations

Wed 25th November 2020

Celebrate all that is special about Sheffield's arts and culture sector!

Sheffield Chamber of Commerce commends Graham Moore’s service for Westfield Health

Wed 25th November 2020

Commenting on the news that Graham Moore has stepped down as Chairman of Chamber Patron Westfield Health, Head of Policy and Representation, Tom Sutton said: