Chamber CEO Reacts to ONS GDP Figures for Q4 2022

10 Feb 2023

Published in: Black Country Chamber of Commerce News

---

Black Country Chamber CEO, Sarah Moorhouse reacts to the latest ONS GDP figures for Q4 2022

---

 “Although the UK economy has narrowly avoided recession on a technicality, 0.1% growth Q3 and 0% ‘flatline’ growth Q4, it doesn’t paint a positive picture in the short term with predictions that the UK will slip into recession later this year.

“That said indications that the recession will not be as deep and long as previously estimated show signs that there are green shoots of hope for the future.

“Recession or not the current picture for businesses in the Black Country is framed in the context of navigating multiple economic shocks, including lockdowns, global supply chain crises, departure from Europe, recruitment issues and soaring energy costs.

“The Black Country Chamber of Commerce remains focussed on raising the profile of the challenges businesses face in these uncertain economic times, to both local and national government, and there will be a particular focus this coming year on energy, recruitment/skills and expanding trade - all high priorities for regional economic growth.”