A Derbyshire business expert has welcomed the Office for National Statistics’ preliminary estimate for gross domestic product output which shows the UK economy has grown by 0.6per cent in the second three months of the year.
George Cowcher, Chief Executive of Derbyshire and Nottinghamshire Chamber of Commerce, the second largest chamber in the UK, said: “Any rise in GDP has to be welcomed and should help boost both consumer and business confidence.
“It must be stressed though that these are preliminary figures and could be subject to adjustment in coming weeks, but growth of 0.6 per cent in the second quarter compared with 0.3 per cent in the first three months of the year shows that the economy is slowly moving in the right direction.
“Today’s figure reflects the findings of the Chamber’s own Quarterly Economic Survey and anecdotal evidence from members which have shown a definite rise in confidence in the second three months of the year.”
He added that the Government must not now rest on its laurels and believe that these green shoots of recovery mean its work is done. He stressed that it must continue to invest in initiatives to drive business forward, to promote private sector investment, cut red tape and remove the barriers many growing business still face when trying to access the finance they need to create jobs and expand.