Home / Knowledge / News / Slow economic growth in Q1 disappoints Economic Advisor
Slow economic growth in Q1 disappoints Economic Advisor
28
Apr '08
Commenting on the preliminary GDP figures for Q1 2008, published by the ONS, David Kern, Economic Adviser to the British Chambers of Commerce, said:

"Today's figures confirm the marked slowdown in economic activity in the early months of this year. Quarterly GDP growth was 0.4% in Q1, down from 0.6% in Q4, while year on year GDP growth was down from 2.8% in Q4 to 2.5% in Q1.

"The figures are broadly in line with initial expectations but have disappointed more recent hopes that growth would be 0.5%. This information confirms the gloomy messages indicated by the BCC's quarterly economic survey, published last month.

"There has been a slowdown across most areas of the economy; in production, services and construction. Whilst the new figures do not signal a recession, they highlight the need for corrective action to ensure that the credit crunch and the squeeze on consumer spending do not worsen the downward pressures on the economy. We continue to urge the MPC to announce a modest cut in interest rates to 4.75% in May."

British Chambers of Commerce

Must ReadView All

Textiles minister Smriti Irani at a press conference with minister of state for textiles, Ajay Tamta, the principal director general (M&C), PIB, AP Frank Noronha and other dignitaries. Courtesy: PIB

Apparel/Garments | On 23rd May 2017

Special package for knitwear coming soon: Irani

Union textiles minister Smriti Irani said that the government of...

Apparel/Garments | On 23rd May 2017

Apparel, footwear use may rise by 63% in 2030: Report

The apparel and footwear consumption is projected to rise by 63 per...

Apparel/Garments | On 23rd May 2017

Gap Inc earns $3.4 bn in net sales in Q1 FY17

Gap Inc's net sales for the first quarter of fiscal year 2017 were...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search