Latest updates and stories from Bedfordshire Chamber of Commerce and its Members

Commenting on the inflation statistics for July 2017, released today by the ONS, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:

The British Chambers of Commerce (BCC) has published its Quarterly Economic Survey – the UK’s largest and most authoritative private-sector business survey. Based on the responses of over 7,700 businesses in Q2 2017, the results for both sectors indicate that the UK economy grew at a subdued rate in the second quarter of 2017.

The British Chambers of Commerce (BCC) has today (Monday) slightly upgraded its UK growth forecast for 2017 from 1.4% to 1.5%. Its expectations for growth in 2018 and 2019 remain unchanged at 1.3% and 1.5% respectively.

The British Chambers of Commerce (BCC) today publishes its Quarterly Economic Survey – the UK’s largest and most authoritative private sector business survey. 

The Department for Business Energy and Industrial Strategy has published a list of the strangest excuses for underpaying National Minimum Wage.

Commenting on the interest rate decision by the Bank of England’s Monetary Policy Committee, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:

The British Chambers of Commerce (BCC) has today upgraded its UK GDP growth forecast for 2017 from 1.1% to 1.4%. However, it has downgraded its expectations slightly for 2018 from 1.4% to 1.3%, and published its first forecast for 2019 of 1.5% growth.

The British Chambers of Commerce (BCC), in partnership with DHL, today (Thursday) publishes its latest Quarterly International Trade Outlook, which shows that confidence among exporters that their turnover will improve jumped in Q4 2016, ahead of further moves towards Brexit.

Commenting on the inflation statistics for January 2017, published on the 14th February by the Office for National Statistics, Suren Thiru, Head of Economics at the British Chambers of Commerce, said:

The British Chambers of Commerce (BCC) today publishes its Quarterly Economic Survey – the UK’s largest and most authoritative private sector business survey. 

The British Chambers of Commerce (BCC) has today (Monday) upgraded its UK GDP growth forecast from 1.8% to 2.1% for 2016, and from 1.0% to 1.1% in 2017. However, it has also downgraded expectations for 2018 from 1.8% to 1.4%.

The economic impact reports outline the proposed plans to relocate Luton Town FC's current football stadium from Kenilworth Road to a site at Power Court in the centre of Luton and for the development of Newlands Park near Junction 10 of the M1.

The British Chambers of Commerce (BCC) Quarterly Economic Survey – Britain’s largest and most authoritative private sector business survey, based on over 8,500 responses from firms in Q1 2016 – suggests that growth in the UK economy continued to soften in the first quarter, with most key survey indicators either static or decreasing.

The British Chambers of Commerce (BCC) has today downgraded its UK GDP growth forecast, from 2.5% to 2.2% in 2016, and from 2.5% to 2.3% in 2017; for 2018, included for the first time in the forecast, GDP growth of 2.4% is predicted.

After a year that included a number of wasted opportunities, John Longworth, Director General of the British Chambers of Commerce, calls on ministers to make 2016 a year of action, with the ultimate aim of putting the UK economy on a strong and more sustainable footing.

The British Chambers of Commerce (BCC) has today downgraded its UK GDP growth forecast, from 2.6% to 2.4% in 2015, from 2.7% to 2.5% in 2016, and from 2.7% to 2.5% in 2017.

The British Chambers of Commerce (BCC) has upgraded its UK GDP growth forecast for the next three years, from 2.3% to 2.6% in 2015, 2.6% to 2.7% in 2016, and 2.6% to 2.7% in 2017. The principal driver for the leading business group’s forecast upgrade is stronger than previously expected growth in both the UK’s service sector and consumer spending.

The UK government has taken a number of positive steps to support British business in the first parliamentary session since the election - but there are some areas of serious concern that remain unaddressed, says the British Chambers of Commerce (BCC), one of the UK's largest and most influential business groups.

• The BCC's economic survey for Q2 2015 indicates continued UK economic growth, but highlights sharp differences between manufacturing and services.
• In services, the results remain broadly positive and signal growth.
• But in manufacturing, virtually all the key national balances recorded declines.

The British Chambers of Commerce has downgraded its UK GDP growth forecast for 2015 from 2.7% to 2.3%, following weaker than expected growth at the start of the year. However, the BCC believes the slowdown is temporary and the prospects over the medium term remain steady, with GDP growth predicted to be 2.6% in 2016 and 2017.

Businesses who make the leap into international markets are reaping the rewards, according to an international trade survey being published today by the British Chambers of Commerce (BCC).

• BCC’s Quarterly Economic Survey is the first major economic indicator of the year, and is closely watched by the Bank of England and the Treasury.
• Manufacturing and services firms reported somewhat weaker Q1 results in most areas (including exports, domestic markets and investment), but this follows very strong findings in Q4 2014.

• BCC’s Quarterly Economic Survey is the first major economic survey of the quarter, and is closely watched by the Bank of England and the Treasury
• The results show that whilst the economy is still growing, it slowed in Q3. Manufacturing and export balances were down on the quarter.

• BCC upgrades 2014 GDP growth forecast from 3.1% to 3.2% - the highest growth rate since 2007
• Growth forecast for 2015 upgraded from 2.7% to 2.8%, but remains unchanged for 2016 at 2.5%
• First increase in official interest rates to 0.75% expected in Q1 2015
• GDP growth will continue at a strong pace of 0.8% in Q3 2014
• Exports of goods and services downgraded: from 1.9% to 0.8% for 2014, from 4.2% to 4.1% for 2015
• John Longworth: “We must ensure the stellar growth in 2014 is not a flash in the pan”

• BCC’s Quarterly Economic Survey is the first major economic survey of the quarter, and is closely watched by the Bank of England and the Treasury
• The results from 7,000 UK businesses are positive overall and point to continued economic growth
• Most key balances show falls in Q2 2014 when compared to the unusually strong Q1 figures
• For manufacturing and services, all the key Q2 balances are stronger than their long-term averages, and most are still higher than their 2007 pre-recession levels

The Government’s Regional Growth Fund will invest £300 million in 50 projects across the country to create tens of thousands of jobs and fuel business expansion, the Deputy Prime Minister Nick Clegg announced today.

BCC Quarterly Economic Survey: service sector exports at new all time high

• BCC upgrades GDP growth forecasts from 2.7% to 2.8% in 2014 and from 2.4% to 2.5% in 2015
• UK GDP expected to exceed  its pre-recession peak in Q2 2014 – one quarter earlier than we forecast in December
• The first increase in UK interest rates expected in Q3 2015 to 0.75%

• BCC predicts that wage growth will exceed inflation from mid-2014
• The youth unemployment rate is expected to remain almost three times the national average over the forecast period (2014 – 2016)

BCC Annual Conference 2014: Ed Balls, Theo Paphitis and Sir John Armitt join business leaders to discuss how to move the economy from Good to Great

BCC Economic Forecast: GDP to surpass pre-recession peak in second half of 2014