The Manufacturing and Service Sector Grows despite Slow Economic Recovery, says the BCC

The newest survey published today by the British Chambers of Commerce (BCC) has found that the manufacturing and the service industry are continuing to grow, despite the UK economy remains weak.

BCC suggests in its Quarterly Economic Survey that businesses are growing but the the pace of activity is too slow for a sustainable recovery. Director General of the BCC, John Longworth, urged the government to take a bolder approach to boosting economic growth. He recommended measures including the creation of a state-backed business bank, and investment in infrastructure as critical to get the economy growing.

Mr Longworth said: “Growth cannot wait. The government must take an imaginative and brave approach to stimulating the economy and helping businesses thrive.”

The survey found manufacturing home orders has edged up two points, to +8%, the strongest level since the second quarter of 2011.  The service employment balance increased six points, to +10%, representing the highest level since the recession began in 2008.

The report indicates a surprising growth over manufacturers’ intentions to invest in training which rose to +18%, the best level for the last four years.

Although, business confidence is still below its 2007 level, manufacturers’ profitability is reported to have increased three points, to +24%, also the strongest level since the last quarter of 2010.

What’s your reaction on the findings by the BCC which suggest the manufacturing and the service industry are growing in times of austerity? If you are working in one of those sectors, share your thoughts by commenting here or raising your voice on our Facebook page. 

About Train4tradeSkills

Train4TradeSkills offer the only trade training skills courses that combine three great ways to learn, through a unique blend of book based theory, practical workshops and virtual reality PC based training, to help you qualify you as a plumber, electrician or gas engineer. No other learning provider offers our unique way to study, with full tutor support, easy to follow, step by step modules. Once you complete one part of the course and return your work for marking, the next stage of the course automatically follows. It’s as easy as that. It’s fun, it’s easy to follow... and it can be fitted around your existing work and family commitments!

Posted on July 4, 2012, in Building Construction Industry, Building Engineering Sector, Business, Employment, Government, Infrastructure, Manufacturing, Politics, t4ts, train4tradeskills, Train4TradeSkills News, UK Economy and tagged , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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