UK Economic Growth Still Stuttering

13th September 2023

The BCC reacts to the latest GDP data from the ONS

Reacting to the latest GDP data from the ONS, David Bharier, Head of Research at the British Chambers of Commerce said: 

 

“Today’s figures showing GDP grew by 0.2% in the three months to July, with a 0.5% decline in July itself underlines the precarious state of the economy. Small and medium-sized businesses continue to battle against stubbornly high inflation, rising interest rates, trade barriers with the EU, higher taxes, and an uncertain labour market. 

 

“Our latest Quarterly Economic Forecast, published last week, expects GDP to flatline over the next two quarters, leading to 0.4% growth for this year. Longer term growth is also expected to be less than 1% for 2024 and 2025.  

 

“Businesses need to see a clear framework from politicians, outlining how long-term investment can be unlocked, and economic growth accelerated.” 

You might also be interested in

MEPS International Renew as Stadium Sponsor at The Home of Football

Fri 19th July 2024

Sheffield FC are delighted to announce that MEPS International will remain as our stadium sponsor for the 2024/25 season.

Who ate all the pies?!

Thu 18th July 2024

Sheffield FC are excited to announce our partnership with Pukka Pies will continue for the 2024/25 season.

Propensio Finance Renew Dugout Sponsorship at The Home of Football

Wed 17th July 2024

The Club is delighted to announce Propensio Finance as Dugout and Community Partner for the 2024/25 season.

Quarterly Recruitment Outlook: Construction Suffers As Hiring Difficulties Rise

Tue 16th July 2024

The latest Quarterly Recruitment Outlook (QRO), a survey of more than 4,700 UK firms of all sectors and sizes, by the British Chambers of Commerce (BCC) Insights Unit, reveals hiring problems have increased across all sectors.