BCC unveils "frightening" economic data

13/01/2009

A very gloomy insight into the recent performance of the economy was released today by a business group.

The British Chambers of Commerce (BCC) said that data for October-December 2008 was the worst since its quarterly economic survey began in 1995.

Its study was conducted by questioning 6,000 firms - which employ around 700,000 people - over what they thought the state of the economy was.

The BCC said that they saw a "frightening deterioration" of the services and manufacturing sectors thanks to the downturn - which could see hundreds of thousands more people losing their jobs.

David Frost, director-general of the BCC, said: “These are truly awful results with the scale and speed of the economic decline happening at an unprecedented rate.

"We have to focus on holding the productive sectors of the economy together. If we are to climb out of this morass we will need a strong business base."

Tags; Current UK Economy, Young Family Finances, Retirement Money Problems, Credit Card Lifestyle, Recent Graduate Debt,

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