12:17 03 April 2013
The British Chambers of Commerce has released a report containing an encouraging assessment of the state of the economy. Based on it survey, it predicts that UK will be spared from a triple-dip recession; understood to be thanks to the strong performance of the country’s service industries in the first quarter of 2013.
This is believed to have kept the economy growing. BBC said that although triple-dip recession is unlikely, it also said that improvement in the economy would be slow and protracted.
David Kern, chief economist at the BCC said: "Fears of another recession are calmed by our results. But the economy was still weak compared with long-term trends and the survey pointed towards a "slow and protracted upturn."
Meanwhile, John Longworth, director general of the BCC called for the government to quickly implement measures to get growth moving.
He said: "We should not be satisfied with a long and tortuous road to recovery. These results provide a glimpse of the as-yet-distant sunlit uplands of recovery. Businesses up and down the country are working hard to drive the economy, create jobs and export, but they cannot accelerate this process alone."
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