Commenting on the trade statistics for September, released today by the ONS, Mike Spicer, Director of Research Economics at the British Chambers of Commerce (BCC), said:
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.
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.
- 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.