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: