The recent Government announcement that the economy grew by 1% in the last quarter is on the surface good news. However in each of the last three or four quarters they have announced revisions to the initial headline figures. So before we celebrate we should remain circumspect. It is worrying however that the Government has put the poor growth figures for the previous quarter (to end June 2012) down to the extra Bank Holiday we enjoyed for the Queen’s Jubilee. Can just one day (out of 65 working days in the quarter) make such a difference as they would have you believe?
Anecdotal evidence from the real economy indicates that the economy does indeed seem to be improving. Many SMEs that we visit are indicating that they are seeing a pick up of orders and remain profitable but all are wary that this may only be temporary. With winter approaching many are fearful that we will slide back into recession if we have a bad winter.
So perhaps we can allow ourselves one cheer (instead of three) for the current economic news and can prepare for growth in the next financial year. If you would like to talk to us about growth plans for next year please contact us or email us at firstname.lastname@example.org