The UK’s gross domestic product (GDP) is set to fall by more than in the last recession, according to a new forecast.

Data released by the British Chambers of Commerce (BCC) estimates that cumulative GDP will drop by 2.9 per cent between the start of the third quarter of 2008 and the end of the same period in 2009.

David Frost, director-general of the BCC, said: “Some of the strain can be avoided, but only if the government can address the two key problems of confidence and cash-flow. We must avoid losing viable companies during this downturn.”

Businesses will play a key role in helping the UK recover from the recession, he added.

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This entry was posted on Sunday, January 4th, 2009 at 6:43 pm and is filed under Articles & Training Resources.