BCC Quarterly Economic Survey: Investment Flatlining As Interest Rate Fears Climb

BCC Quarterly Economic Survey: Investment Flatlining As Interest Rate Fears Climb

Just two fifths of UK firms (41%) now expect their prices to increase in the next three months, down from 55% in Q1. Labour costs are the biggest driver of price rises, across most sectors, cited by 66% of all businesses. Domestic sales, cashflow, turnover and profitability indicators are stable…

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Business Confidence In Net Zero Plans Is Vital

Responding to the announcement of changes to several key Net Zero policies, Shevaun Haviland, Director General of the BCC, said:        “If we are to meet the challenge of making the UK Net Zero by 2050 then we must have pragmatic goals, that business can be confident they will be…

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Inflation measures gradually easing

Reacting to the latest inflation data from the ONS, David Bharier, Head of Research at the British Chambers of Commerce, said:     “Today’s CPI rate of 6.7%, while proving stubborn, shows that inflation is continuing to gradually ease off. Producer price inflation (PPI) fell by 2.3%. This should give the Bank…

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New Business Council Ushers In Partnership Era

The BCC has held ​its inaugural​​ ​meeting of its new Business Council alongside Cabinet Minister, the Rt Hon Michael Gove and Shadow Chancellor, the Rt Hon Rachel Reeves. The new body, compris​ing​​ ​​some of the most ​prominent ​British​​ ​business​es,​ has been brought together to work in partnership with politicians ​to…

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Steady July for UK Trade – with Exports Up

Reacting to the latest ONS trade data for July, William Bain, Head of Trade Policy at the BCC, said:     “Removing the effects of inflation, goods export volumes grew at a decent pace in July, with a 4.4% month on month increase in sales to the EU.     “But a…

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UK Economic Growth Still Stuttering

Reacting to the latest GDP data from the ONS, David Bharier, Head of Research at the British Chambers of Commerce said:    “Today’s figures showing GDP grew by 0.2% in the three months to July, with a 0.5% decline in July itself underlines the precarious state of the economy. Small…

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Firms’ Workforce Worries Continue

Reacting to the latest ONS labour market figures, Jane Gratton, Deputy Director Public Policy at the British Chambers of Commerce said:    “Today’s figures show pay for individuals may be improving, but the current situation offers little comfort to businesses up and down the country. Firms are still struggling to contain wage…

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Business In The Dark Over Regulatory Avalanche For EU Trade

New research by the BCC has uncovered that the vast majority of businesses are unaware and unprepared for a swathe of fast approaching changes in EU/UK regulations. When asked about their knowledge of a number of changes coming down the track, the survey of more than 700 firms found: 84%…

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BCC Economic Forecast: Fragile Economy Stuck In First Gear  

The British Chambers of Commerce (BCC) marginally upgrades its 2023 GDP forecast to 0.4%, but economic activity will remain very weak throughout 2024 and 2025, according to the organisation’s latest Quarterly Economic Forecast.       UK Economic Outlook    The UK economy remains on course to avoid a technical recession, but…

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Three Key Fixes Needed For SME Finance

The BCC has called for action to improve the availability of finance for SMEs as accessibility, awareness and a lack of competition continue to hold firms back.  In written evidence submitted to the Treasury Select Committee, the BCC said many smaller firms are no longer seeking finance as they consider…

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