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UK economic growth continues, claims business group

Tuesday, July 13, 2010

The UK economy continued to grow in the second quarter of this year, according to new data released by the British Chambers of Commerce (BCC).

In its latest Economic Survey, the BCC found that growth was particularly strong in the manufacturing sector, with home and domestic sales rising significantly.

Meanwhile, manufacturing export sales increased by 11 points to +31% - its highest level since Q3 2006. Confidence and employment levels within the industry also rose between April and June.

However, the BCC said that sluggish growth in the service sector remained a 'serious concern' and needs to be addressed if the country is to avoid a double-dip recession.

‘This is very much a tale of two sectors,' said David Frost, Director General of the BCC. 'Manufacturing is performing far better than services.'

He added: 'With very austere times ahead, no one should kid themselves into thinking that the UK's economic recovery is totally secure. There will need to be an unwavering focus on ensuring business is able to deliver growth, create jobs, and drive a lasting recovery.'

Categories: Business & Economy