Economy

Please click on the links below for monthly reports from the BCC and the Bank of England in relation to the current state of the economy.

October 2017

BCC Economic Review

This month's headlines:

  • UK GDP growth unrevised in Q2, the joint weakest in the G7 and the EU.
  • While UK labour market remains a bright spot, inflation resumes its upward trajectory.
  • BCC downgrades outlook for the UK economy with the fall in sterling failing to boost UK growth.

September 2017

BCC Economic Review

This month's headlines:

  • UK GDP growth unrevised in Q2, as business investment and consumer spending slows.
  • While UK labour market remains strong, pay growth continues to lag behind price growth.     
  • GDP growth strengthens in key UK markets, including the Eurozone and the US.

August 2017

BCC Economic Review

This month's headlines:

  • UK GDP growth up slightly in Q2, boosted by stronger service sector output.
  • Inflation slows in June, while the UK jobs market goes from strength to strength.  
  • IMF downgrades its UK growth forecast as latest BCC QES points to subdued economic activity.

July 2017

BCC Economic Review

This month's headlines:

  • UK GDP growth in Q1 unrevised at 0.2%, the lowest in the G7 and the EU.
  • Retails sales fall as inflation continues to rise and wage growth weakens further. 
  • BCC forecasts anaemic growth, inflation and uncertainty likely weigh on the UK growth prospects.

June 2017

BCC Economic Review

  • UK GDP growth in Q1 revised down as the trade deficit widens.
  • UK consumer price inflation rises to three-year high as pay growth continues to slow.  
  • Indian economic growth slows sharply as Brazil emerges from two-year recession.

May 2017

BCC Economic Review

  • UK economic growth slows in Q1 as output from consumer-focused industries weakened.    
  • UK consumer price inflation hold steady, but wage growth slows further.  
  • US GDP growth weakens, as the outlook for the Eurozone continues to improve. 

April 2017

BCC Economic Review

  • BCC upgrades its UK economic growth forecast for 2017, but downgrades outlook for 2018.  
  • Inflation breaches the Bank of England's 2% target as earnings growth continues to slow.
  • Federal Reserve raises US interest rates and more rises are expected this year.

March 2017

BCC Economic Review

  • UK GDP growth for Q4 upgraded to 0.7%, but growth for 2016 revised down to 4-year low
  • UK retail sales weakens further as inflation continues to rise and earnings growth slows
  • German GDP growth picks-up in Q4 as Greece’s economy shrinks

February 2017

BCC Economic Review

  • UK economy grew by 0.6% in Q4 2016 with services dominating GDP growth.
  • Falling value of sterling feeding through into higher inflation and squeezing real earnings.  
  • GDP growth in the world's two largest economies - USA and China - slowed in 2016. 

January 2017

BCC Economic Review

  • Q3 UK GDP growth revised up and latest QES points to solid growth in Q4.
  • Higher inflation and uncertainty over Brexit likely to weigh on UK’s growth prospects.
  • US Federal Reserve raises interest rates and further rises are likely in the coming months.

December 2016

BCC Economic Review

  • Q3 UK GDP growth unrevised with business investment supporting growth in the quarter.
  • OBR downgrades its economic and fiscal outlook for the UK.
  • US GDP growth revised up, but the pick-up in Indian GDP growth unlikely to be sustained.

November 2016

BCC Economic Review

  • UK economy continues to grow at a moderate pace, but growth remains reliant on services. 
  • The declining value of sterling set to push inflation higher in the coming months.
  • US economic growth at two-year high, boosted by stronger investment and exports.  


October 2016

BCC Economic Review

  • UK GDP growth unrevised in Q2, with consumer spending driving growth in the quarter.
  • UK set for a prolonged period of rising inflation, as the jobs market continues to strengthen. 
  • US interest rates likely to rise by the end of 2016 despite downward revision to growth.  

September 2016

BCC Economic Review

  • UK GDP growth unrevised in Q2, with consumer spending driving growth in the quarter.
  • UK set for a prolonged period of rising inflation, as the jobs market continues to strengthen. 
  • US interest rates likely to rise by the end of 2016 despite downward revision to growth.  

August 2016

BCC Economic Review

  • UK GDP growth picks-up in Q2, but the latest QES indicates weaker growth.  
  • Bank of England cuts UK interest rates to a new record low of 0.25% and expands QE.
  • Eurozone GDP growth weakens in Q2, while consumer spending boosts US GDP growth.


July 2016

BCC Economic Review

  • UK GDP growth unrevised in Q1 with consumer spending likely to support growth in Q2.
  • UK interest rates could fall, while the government abandons its target for a budget surplus.
  • Too early to gauge the economic impact of Brexit, despite financial market volatility. 

June 2016

BCC Economic Review

  • Q1 UK GDP growth unrevised, amid weakening investment and a record high trade deficit. 
  • Bank of England cuts forecast for UK growth, with deficit reduction proving a real challenge.
  • Japan avoids another recession as growth in the Eurozone picks up in Q1.

May 2016

BCC Economic Review

  • UK GDP growth slowed in Q1 2016, as manufacturing and construction output fell.
  • BCC QES confirms UK growth is slowing with key survey indicators either static or declining.
  • IMF downgrades global economic outlook, as US and Chinese GDP growth slows  

For the BCCs Global Economic Review - please visit our International Trade Section - http://www.doncaster-chamber.co.uk/global-economic-review.asp

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