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News - 6 December 2012

UK Economy 2012 not as bad as you may have thought.

The British Chambers of Commerce (BCC) who had earlier this year predicted a 0.4% contraction in the UK economy has revised its forecast for the economy to shrink by 0.1%.

However, it now sees growth of 1% for the whole of 2013, down from the 1.2% it had forecast in September.

John Longworth, director-general of the BCC said:
"The fact remains that growth is still too weak. Thankfully, we have businesses here in the UK that are ambitious, determined and resilient."
Last month, it emerged that the UK economy had bounced back from recession in the three months to September.
 

Lavinia Newman, founder of ABDS comments:
“The economy grew by 1.0%, after contracting for the previous nine months, helped by the Olympic Games.  The UK has still not recovered the levels of output seen before the financial crisis in 2008.”

If you need any help and advice on Business Plans, Management Accounts, Budgets and Cash Flow Forecasts, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar NOW to discuss how ABDS can help in all your financial planning.


ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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