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UK economy 'to hit 2008 peak by summer'
The UK economy will exceed its pre-recession peak by the summer, according to upgraded forecasts from a leading business lobby group today. The British Chambers of Commerce (BCC) believes the UK will grow by 2.8% this year.
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Cameron hails 'good news' on economic recovery
David Cameron has hailed the "good news" on economic recovery after the British Chambers of Commerce (BCC) said it believed the UK will grow by 2.8% this year.
BCC: UK Businesses 'expanding and creating jobs'
The director general of the British Chamber of Commerce has said that UK businesses are "expanding and creating jobs".
John Longworth said: "Our economic recovery is gaining momentum. Businesses across the UK are expanding and creating jobs, and our increasingly sunny predictions for growth are a testament to their drive and ambition."
The BCC expects the first increase in interest rates will happen in the autumn next year - one quarter earlier than previously envisaged, before rising to 1.5% in the second half of 2016. GDP will be 2.5% next year and in 2016.
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UK economy 'to hit 2008 peak by summer'
The UK economy will exceed its pre-recession peak by the summer, according to upgraded forecasts from a leading business lobby group today.
The British Chambers of Commerce now believes the UK will grow by 2.8% this year and that the second quarter will see gross domestic product climb back to the level seen in the first quarter of 2008.
A year ago amid a much gloomier picture for the economy, the BCC predicted the pre-recession peak would not be reached until 2016, although a number of revisions brought this forward to the third quarter of 2014 in December.