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UK Economy on the Rise

UK Economy on the Rise

According to two major business lobby groups, the CBI and the British Chambers of Commerce, the UK economy is in good health.

The CBI reported growth reached a record high in May, marking the best reading since it began gathering data back in 2003.

The BCC also uploaded its growth forecast for 2014, from 2.8% to 3.1%. If this is achieved it could be the highest rate since pre-crisis 2007.

Sectors including retails sales and professional and consumer services did well in the first three months, while other sectors such as manufacturing output continued to grow at a "solid pace".

Andrew Graham, the chief executive of wallpaper manufacturer Graham and Brown said: The economy is improving, but that is from a very low base.

"I think we are just starting to see recovery. As a business, we have started investing seriously again over the last 12 months."

John Longworth, the BCC's official director general added: "Our forecast confirms that Britain is leading, rather than following, ther major economies when it comes to short-term growth, which is great news.

"But make no mistake - we still have a lot of work to do."


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