‘Britain already in recession’, says British Chambers of Commerce

Data published by the British Chambers of Commerce show that the economy is 'already in recession', according to the business group. The quarterly economic survey of 5,000 businesses found that the domestic economy is under ‘immense pressure’ for the second quarter in a row. The British Chambers of Commerce predicts that unemployment could rise by 350,000 by next year.

The group said the figures followed worrying results in the second quarter, with balances in ‘virtually all’ the key industries worsening, and many falling into negative territory.