TWO key surveys on business growth published today predict short term gloom.
The British Chambers of Commerce (BCC) quarterly economic forecast reduces expectations for UK GDP growth in 2011 to 1.4%, from the December forecast of 1.9%, but raises its prediction for 2012 growth to 2.3%, from 2.1%.
It also increases its predictions of unemployment for early 2012 to 2.65m, from the December forecast of 2.6m.
And while recruitment firm Manpower says growth in the finance sector is contributing to an overall +2% balance on hiring intentions, public sector hiring intentions show a -22% level, the worst since the 1990s recession, in its latest quarterly report today.
Liverpool Chamber of Commerce chief executive Jack Stopforth said: “Businesses will welcome the Government’s desire to boost enterprise, and reduce red tape, but these words must be backed by action. Without credible growth-enhancing policies, there is a danger the recovery will fizzle out.”
