Feeds

Chambers of Commerce say UK recovery is weak

Manufacturing confidence high, but growth 'too slow'

Reducing the cost and complexity of web vulnerability management

The UK's economic recovery remains weak and the Coalition has failed to tackle the underlying reasons.

The British Chambers of Commerce surveyed 6,600 of its members and found efforts to move the economy towards increasing exports has failed.

Although manufacturers are having more luck with exports than with domestic sales, the BCC warned that continued weakness in the eurozone and in the US housing market means that the UK economy is still facing serious risks.

David Frost, director general of the BCC, said: "Britain's economic recovery is continuing but the pace of growth is too slow, and our economy is out of balance... We do not export enough goods and services, meaning we run up continual trade deficits.

"We accept the need to persevere with painful measures to cut the deficit. But the government must move beyond the rhetoric of growth, and introduce radical reforms to help businesses export, invest and create more jobs."

BCC members are still struggling with cashflow. There have been marginal improvements but survey results are still in negative territory. Pressure to push up prices is continuing – 38 per cent of manufacturers say there is pressure to hike prices thanks to increases in raw materials and inflation pressure elsewhere.

There is some good news though: manufacturing confidence remains high, it rose 12 points to 40 per cent. The BCC accepted that results were offset by fewer working days in the quarter. It expects GDP growth of 0.3 per cent for the quarter.

It called on the Bank of England's Monetary Policy Committee to postpone "premature interest rate rises" and the government to "implement more growth-enhancing policies". ®

The next step in data security

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Why Oracle CEO Larry Ellison had to go ... Except he hasn't
Silicon Valley's veteran seadog in piratical Putin impression
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.