Economic forecast upgraded by BCC

Date: 1st September 2010

Small business owners operating in a number of industries within the UK could be among those encouraged by a revised economic forecast from one industry body.

The British Chambers of Commerce (BCC) has changed its original estimate to predict that the UK will see GDP increase by 1.7 per cent this year and 2.2 per cent in 2011.

This represents a rise on the 1.3 per cent and two per cent that the organisation originally forecast for the two years.

It follows the publication of the latest Office for National Statistics report, which revealed GDP increased by 1.2 per cent in the last quarter.

David Frost, the BCC's director-general, said: "There must be a relentless focus on ensuring that business is able to deliver growth and create employment.

"We need policies that rebalance the economy towards wealth-creating businesses and enable the private sector to invest, export and create new jobs. Failure to get this right poses the biggest risk to recovery."

Posted by Thomas Fletcher