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News - 11 February 2014

Good news from CBI and BRC

The Confederation of British Industry (CBI), which represents some 240,000 businesses, predicts that business investment growth will rise at its fastest rate since 2007, helped by improving confidence amongst businesses and low borrowing costs.

John Cridland, CBI Director-General, said:
“We are starting to see signs of the right kind of growth. In our view this is not a debt-fuelled, housing bubble-led recovery - our forecast shows encouraging signs that business investment and net trade are starting to play their part.”

Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“The CBI is also predicting that export growth will strengthen as the eurozone and the broader global economy pick up. On housing, they say that much of the price increases had been in London and the South East and were not being replicated across the country. They have also upgraded their growth forecast for this year to 2.6%, up from 2.4% in November and said that it saw "no prospect" of an interest rate rise until late in 2015.”

Other good news came from the British Retail Consortium (BRC), their survey noted that UK retailers saw strong sales last month, helped by rising employment and the recovery in the housing market, with total sales rising by 5.4% in January from a year earlier, while like-for-like sales - which strip out changes to retailers' floorspace - climbed 3.9%.

If you need any help and advice for Business Development, and or starting up a new business, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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