UK Business has reported a rise in orders according to recent research by the British Chamber of Commerce.
Thanks to the good news from our UK Business’s the Chamber of Commerce is now going to be under pressure to raise GDOP forecasts for 2014.
Over 7,400 UK business’s where surveyed across the length and breath of the UK.
This level of activity is fantastic news and brings order levels inline with pre recession levels and will have a knock on effect though the whole economy with over 25 % of UK business’s surveyed expecting to create more jobs within the next three months.
The has far reaching effects for UK business as the International Monetary Fund has also seen the growth as a good indicator and has already increased projections for the UK to 1.4%. This is still however in stark contrast to the IMF’s projections for the rest of the world as a whole which still remains at 2.9%.
The International monetary fund is reported to see potential floors in the up and coming markets as being a major contributor to the global reduction. That said the IMF is set to want to see proof of a full UK recovery which they predict could take many more years.
So it really is good new for UK business’s as even a marginal realignment of just 0.4% will have a huge impact. As this will translate into a predicted second fastest annualised growth rate of the G7.
For once UK Business’s have something to be proud of and while we must not be complacent our growth figure are certainly higher than the USA which was just 1.9%. we have to be mindful that as yet there are other nations still leaving us behind with the likes of Japan’s 3.5% growth.