GDP Gives Reason for Optimism

Business leaders welcomed today’s announcement that the GDP figure for the first quarter of 2014 has risen by 0.8 per cent, to its highest level in nearly four years, which indicates a move to 2008 times of economic stability.

 

Tim Pile, president of Birmingham Chamber of Commerce said:  “Today’s GDP figure gives us a reason to be optimistic as we move further into 2014.   

 

“Other indicators such as inflation and unemployment are also moving in the right direction and this could mean a possible interest rate rise is now on the horizon, which has been kept to a record low of 0.5 per cent.

 

“The British Chambers of Commerce upgraded its GDP forecast to 2.7 per cent for 2014, which is a significant and welcome move.

 

“However, more can be done. SMEs need to be the core drivers of the West Midlands economy in 2014.  So the Government should continue to focus on the key issues affecting businesses, such as access to finance, red tape and regulation.