Clearview North July 2014 - Issue 152 - Page 4

fromtheeditor We may not believe what the politicians (of every shade) tell us in the light of recent events at home and in Europe, but – looking at some of the more upbeat news from business organisations and individual companies in this sector - it is hard not to feel some sense of optimism about the UK economy. The latest CBI Industrial Trends Survey shows that activity in the UK manufacturing sector remained solid in May, and output is expected to rise strongly in the next three months. CBI deputy directorgeneral Katja Hall said the improvement was down to increased confidence in the UK economy, easier access to credit, and better global economic conditions. On the downside, she said there were, however, risks to the UK’s outlook from global developments, including the “possibility that the situation in Ukraine and Russia could impact on global commodity prices”. The British Chambers of Commerce (BCC) upgraded its growth forecast for 2014 from 2.8% to 3.1%, which, if achieved, would be the highest rate since pre-crisis 2007. That figure is well above the 2.7% forecast by the Office for Budget Responsibility (OBR)