A Fragile Economy Means Companies Need More Government Support
The most recent server from the British Chambers of Commerce has suggested that even though the UK economy remains fragile, businesses are actually growing. The Director General, John Longworth, has called for bold action, claiming that ‘Growth cannot wait’.
The BCC survey also found that a small rise in exporting from Britain, both amongst the manufacturing and service sectors has occurred over three months. Whilst in this area, business improved, domestic activity has stayed relatively the same.
However, the picture is much more complex in terms of employment. Service sector employment has risen significantly, however, manufacturing roles have plummeted, with manufacturers taking on fewer staff and planning to employ even fewer staff in the near future.
Domestic growth continues to stay at the bottom, but it looks like more firms are looking for export opportunities, which still leaves Britain’s economy with a glimmer of hope for the future. Growth simply cannot wait it seems, and it’s about time the government took a new approach to stimulating the economy.