Watford, United Kingdom (PressExposure) January 12, 2010 -- British economy is doing better with every passing moment. As the UK manufacturing sector is witnessing consistent growth, there have been improvements recorded in the other sectors as well. This has provided the UK economy enough confidence in battling the ongoing recession. It has been validated by the British Chambers of Commerce (BCC).
Economic survey of the BCC revealed that UK economy is consistently performing well for the fourth quarter consecutively. As far as the current trend is concerned, UK economy is expected soon to leave the recessionary phase.
However, it also showered some words of caution and said that despite the consolidation of exports, the overall industry is still battling with the ongoing financial crises. It has also suggested that the doors of capital must be opened for the businesses of UK at the earliest.
According to the BRC, UK productivity can only be enhanced with consolidating the capital spending on businesses.
It has also proposed to scrap the National Insurance Contributions program according to which 1% increase has to been given by the year 2011.
Although UK is passing through a tough financial phase, with its trading conditions remaining uncertain, there are strong indications of growth as well. This has provided the economy of UK further assistance to cope up with the ongoing financial crises.
Businesses in UK are showing their strength by making consistent advancements in terms of growth, however much needs to be done in the coming days. There is considerable improvement in exports and UK global trade position is expected to strengthen as a result. However, there are certain measures that need to be taken in time.
However, there are some concerns as far as the service sector is concerned. There are signs of weakness in the service sector, however if things are tackled in time, they are expected to move in the positive direction soon.
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