Home / Knowledge / News / Textiles / 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


Interviews View All

Viral Desai, Zenitex Mill Pvt Ltd

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Angelina Francesca Cheang, MY ANJE

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Varinder Singh Jawanda, Trendy Bharat

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Hardik Sanghvi,

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Ashish M Amin,

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Deepak Mundra,

Deepak Mundra

Surat-based Madhusudan Group is a vertically integrated textile...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

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

Leave your Comments


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search