UK will avoid double-dip recession - BCC

The improving strength of the UK's manufacturing and services sectors should ensure the economy avoids a double-dip recession, said the British Chambers of Commerce.

In its quarterly economic survey, the BCC noted almost all key national balances had strengthened in Q1 for both the manufacturing and services sectors, making them "much stronger" than during the worst phase of the most recent recession. "Threats of a disorderly disintegration of the eurozone have receded, and fears of a renewed domestic recession have eased," the BCC said. Improvements were seen in both sectors across exports, employment, investment and business confidence. But service balances improved by less than those of manufacturing in Q1, the BCC added, and both remain below ...