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

Commenting on the inflation statistics for June 2019, published today by the Office for National Statistics, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:

“Inflation held steady in June, as the upward pressures from clothing and food were offset by weaker outturns in several price categories

Commenting on the inflation statistics for May 2019, published today by the Office for National Statistics, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said: 

“The easing in consumer prices in May is further evidence

Commenting on the inflation statistics for June 2018, published today by the Office for National Statistics, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:

The British Chambers of Commerce (BCC) has today slightly downgraded its growth expectations for the UK economy, forecasting GDP growth for 2018 at 1.3% (from 1.4%) 

Commenting on the inflation statistics for March 2018, published today by the Office for National Statistics, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:

“Inflation slowed again in March, confirming its downward trajectory. 

The British Chambers of Commerce (BCC) has today (Monday) upgraded its growth expectations for the UK economy, raising its forecast for GDP from 1.1% to 1.4% in 2018 and from 1.3% to 1.5% for 2019, and its first forecasts for 2020 is for 1.6% growth.

by James Pinchbeck, Marketing Partner Streets Chartered Accountants.

The Chancellor has delivered his first Spring Statement, which did away with the typical announcements around tax changes and public sector cuts or increased spending. 

The British Chambers of Commerce (BCC) has today slightly downgraded its three-year outlook for the UK economy, cutting growth expectations from 1.6% to 1.5% in 2017, from 1.2% to 1.1% in 2018, and from 1.4% to 1.3% in 2019.

Commenting on today’s interest rate decision by the Bank of England’s Monetary Policy Committee, Mike Spicer, Director of Economics at the British Chambers of Commerce (BCC), said:

Ahead of the Chancellor’s Autumn Budget on November 22, the British Chambers of Commerce (BCC) is urging the government to take immediate action to halt the expected 3.9% increase in business rates valuations next year, as part of a bold Budget that seeks to boost the UK’s productivity.

The British Chambers of Commerce (BCC) has today slightly downgraded its medium-term outlook for the UK economy over the next few years. While the BCC has slightly upgraded its UK growth forecast for 2017 from 1.5% to 1.6%, its growth expectations for 2018 and 2019 have been cut from 1.3% to 1.2%, and 1.5% to 1.4% respectively.

The British Chambers of Commerce (BCC), in partnership with DHL, today publishes its latest Quarterly International Trade Outlook, which shows that while many exporters continue to put in a solid performance, wider economic factors are a cause of concern.

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:

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:

Commenting on the inflation figures for December 2016 released today by the Office for National Statistics, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:

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.

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.

• 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”

• Retail sales volumes fell 0.7% in October 2013, and were flat in the last three months
• Over the past year retail sales increased by 1.8%
• Annual inflation of goods sold in the retail industry was 0.7% in October, well below total CPI inflation

Commenting on today’s interest rate decision, announced by the Bank of England’s Monetary Policy Committee, David Kern, Chief Economist at the British Chambers of Commerce (BCC) said:

• Retail sales volumes for August 2013: down 0.9% on the month; up 2.1% on the year
• The August fall comes after a strong increase in July, and the trend in sales remains clearly upward, with an increase of 1.7% in the three months to August, compared with the previous three months
• Annual inflation in the retail sector slowed from 1.8% in July 2013 to 1.6% in August 2013

Commenting on the government’s decisions today on National Minimum Wage rates from 1 October 2013, Dr Adam Marshall, Director of Policy at the British Chambers of Commerce (BCC), said: