The British Chambers of Commerce said Tuesday that the economy is showing signs of improvement and may avoid a recession. Still, economic growth remains "weak," the industry group said.
The BCC expects the economy to expand 0.3 percent in the first quarter of 2012, after suffering a 0.3 percent contraction in the fourth quarter.
For the whole of 2012, it predicts a 0.6 percent expansion, weaker than the 0.8 percent growth projected by the Office for Budget Responsibility.
Growth is likely to remain low for some time, and a return to a more normal pace is unlikely until 2013, reports quoted BCC chief economist David Kern as saying.
According to the survey, business confidence has increased from the previous quarter, but remains weak compared with the historical standards. Both manufacturers and services firms reported a rise in orders in the first quarter of the year.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.