9:05am Thursday 9th July 2009
THE worst of the recession is over, but talk of recovery is premature, a leading business group has said.
The British Chambers of Commerce said there had been “welcome progress” in recent months, especially among confidence levels, which had been badly hit by the downturn.
But the Chambers said sales, orders and employment levels in manufacturing and service firms remained weak.
The report, based on a study of 5,600 companies in the quarter to June, showed that “serious downward pressures” remained across all sectors of industry.
“Further corrective measures are needed to support the economy. Confidence levels are still historically weak and recent improvements can only be sustained if the economy continues to stabilise and the recession ends,” said the report.
© Copyright 2001-2012 Newsquest Media Group
http://www.theboltonnews.co.uk/trade_directory/