The best business advice, opinion, news and expertise in Greater Manchester and further afield.

Friday, 23 October 2009

UK still in recession according to GDP figures

by Chris Fletcher, Deputy Chief Exec.

Today's figures, showing the UK economy shrank by 0.4% in the third quarter, are obviously disappointing as many people were predicting positive growth and an end to the recession. However, even if the results had been as predicted the economic challenges faced on a daily basis by business would not have disappeared overnight.

Despite some signs of increasing confidence there are still longstanding issues around cashflow and finance that are the main barriers holding back the start of real economic growth. These are the issues at the forefront of most business' minds.

Hopefully the figures will show improvement in the last quarter but even then we are still a long way off anything approaching a full economic recovery. The recovery phase of any recession can be just as fraught with danger as the entry into one and the conditions are just not there yet to promote recovery.

We will continue to do whatever we can to help businesses through these demanding times.

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