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BCC: Disappointing GDP figures reinforce need for forceful measures to end recession

Commenting on the revised GDP figures for Q3 2009, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

“Although broadly expected, these figures are disappointing and indicate that the UK was still in recession in Q3. We continue to lag behind other major economies. The small rise in exports in the quarter is welcome, but it is less than many anticipated given the recent growth recorded in other European countries.

“Our economy is still excessively relying on the public sector. Government consumption and investment have both increased, but the fall in business investment threatens our future productive potential.

“With the economy still facing significant problems, the government and MPC must take urgent action to end the recession. This should focus on sustaining demand and removing the obstacles restricting companies’ ability to invest and grow. Next month’s Pre-Budget Report will be a perfect opportunity to announce some of the most pressing measures.”