UK economic growth 'sluggish'

Growth slows ahead of January VAT increase
Author:
Publish date:
116_mypictr_185x185(2).jpg

Economic growth in the third quarter has been described as "considerably slower" than in previous quarter by the British Chambers of Commerce (BCC), as reported by the BBC.

The BCC has warned that businesses face significant challenges over the next months, not least with the VAT rise in January.

The British Retail Consortium said retail sales growth slowed last month, seeing like-for-like sales up 0.5 per cent from the same period last year – a reduction on that seen in August. BRC director general Stephen Robertson said that there was so far little indication that shoppers were making expensive purchases early to beat the VAT rise.

David Kern, the BCC's chief economist, urged the Bank of England to consider additional measures to help the economy.

He said:"The MPC [Monetary Policy Committee] should seriously consider increasing the quantitative easing programme to £250bn (from £200bn) before the end of 2010 to enhance the economy's ability to cope."

Featured Jobs

cls logo_jpg 600x348

Bike Mechanic

Club La Santa I Lanzarote, Canary Islands I Competitive Salary & Benefits I Date Published Monday 7th January 2019

LTR coral logo 620x349

Local Project Manager (x3 roles)

Love to Ride I North East Lincolnshire, Slough, Southampton I Salary: £32,500 equivalent (PT, temporary) I Date Published Monday 7th January 2019

Logo stacked

Head of Marketing

Brompton I West London I Salary Competitive I Date Published Wednesday 9th January 2019

BE2016_googlelogo

Senior Sales Executive

BikeExchange I UK Nationwide I Salary TBC Depending on level of experience I Date published Wednesday 16th January 2019