Economic forecast positive for Contractors
Contractors operating in a number of industries within the UK could be among those encouraged by a revised economic forecast from the British Chambers of Commerce (BCC). The BCC has changed its original estimate to predict that the UK will see GDP increase by 1.7% this year and 2.2% in 2011 – which represents a rise on the 1.3 % and 2% that the organisation originally forecast for the two years. This follows the publication of the latest Office for National Statistics report, which revealed GDP increased by 1.2 % 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.”