‘Double dip’ recession less likely – GreenStones

THE UK economy seems to have sidestepped the dangers of a double-dip recession but still faces many risks. That’s according to a report on the website of Peterborough accountants GreenStones.

The article says that the British Chambers of Commerce’s latest quarterly survey reveals the economic upturn is on course.

On the downside, however, the survey also found that business investment is declining, while job losses in the manufacturing sector continue to climb.

The survey, which took in some 5000 British firms, revealed that the service sector, which comprises the largest segment of the economy, enjoyed an improvement in both domestic and overseas sales during the first quarter of the year.

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