You are here: Home - Investing -

BCC warns of ‘flash in the pan’ UK recovery

Written by:
The British Chambers of Commerce (BCC) has upgraded its UK GDP forecast for 2014 but cautioned the recovery may be short-lived unless exports bounce back.

In its Q3 update, the BCC said it expects the UK economy to grow 3.2 per cent this year and by 2.8 per cent in 2015, up from forecasts of 3.1 per cent and 2.7 per cent three months ago.

However, those figures, driven by higher consumer spending, were accompanied by a halving of its forecast for export growth, to 0.8 per cent.

The Bank of England, by contrast, continues to predict 2.25 per cent growth for the export sector this year.

“The task at hand is to ensure that the stellar 2014 growth is not a flash in the pan,” said BCC Director-General John Longworth. “A strong international trade performance is key if we are to steer away from a reliance on consumer spending.”


Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
FTSE 100: This morning’s risers and fallers

UK stocks were trading lower on Thursday as the FTSE 100 paused for breath after settling near an eight-week high...