|
News Index
Next
Previous
The latest British Chambers of Commerce Quarterly Economic Survey received a
record response with nearly 5000 businesses taking part.
The results are ominous and show serious risk of recession, with some results
hitting historically low levels in the manufacturing and service sectors.
If the trend continue, the UK business sector is now only one quarter away from
technical recession.
In particular, the critical UK domestic balances for home sales and orders
recorded negative growth in the last
three months in both manufacturing and services.
Commenting on the survey, director general of the British Chambers of Commerce
David Frost, said: "These results show a real risk of recession in the coming
months.
"This is obviously deeply worrying, not just for business but for the consumer
too, with both manufacturing and services reporting negative results.
The temptation for the Government will be to raise business taxes because the
exchequer is running out of money.
"This would be a catastrophe".
Source: Credit
Control Journal
|
