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News - 11 March 2014

BCC: UK economy to hit pre-recession high.

The British Chambers of Commerce (BCC) thinks the second quarter, starting in April, will see GDP exceed the level seen at the start of 2008. The BCC has upgraded it forecasts and estimates economic growth will be 2.8% this year - up from its earlier estimate of 2.7%.

The BCC director General John Longworth said:
"Our economic recovery is gaining momentum. Businesses across the UK are expanding and creating jobs, and our increasingly sunny predictions for growth are a testament to their drive and ambition.”

He also called for more business investment and better access to finance for companies.

Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“In December, the BCC forecast economic growth would reach pre-recession levels by the autumn; they have also upgraded their growth forecast for 2015, from 2.4% to 2.5%. They also predict the first increase in UK interest rates will come at the end of 2015, rising from their historic low of 0.5% to 0.75%.”

The Federation of Small Businesses (FSB) said in a report on business confidence that one in seven smaller companies wanted to create jobs in the next three months.

If you need any help and advice on Budgets, Cash Flow Forecasts and Management Accounts, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar NOW to discuss how ABDS can help in all your financial planning.


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

Brilliant with numbers
Great with people
Clear and precise with advice
Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals
 

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