UK Economy Shows Muted Growth

The British Chambers of Commerce (BCC) predicted today that the British economy continued to grow at a rate of between 0.6 and 0.7 percent for the second quarter of the year. The prediction was based on a survey of 5,600 businesses.

The survey also confirms that while manufacturing totals have increased, the service sector continues to struggle. David Frost, Director General of the BCC, also noted that overall, the BCC was pleased with the recent budget passed by the Tory-led coalition government.

“What businesses have continued to tell us is they wanted the government to deal with this huge deficit and clearly the emergency budget went down well with our members because action was taken,” Frost said.

“But equally business knows that it’s going to hit them in major parts of the UK.”

Source: BBC News

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