Businesses enjoying strong start to 2018, research shows
The services sector in particular has seen an improving performance.
Businesses are enjoying a strong start to the year despite mounting uncertainty over Brexit, driving an expected increase in economic output, according to new research.
A study by business advisors BDO LLP suggested that the UK can expect GDP growth of around its long-term trend of 2% in the early part of 2018.
The services sector has seen an improving performance, linked to the pickup in the global economy and better than expected consumer spending in the UK, said the report.
We need the government to align quickly and communicate its Brexit plan Peter Hemington, BDO LLP
Record high employment levels look set to continue early in the first half of the year, although further increases in prices could be on the horizon for UK consumers, said BDO.
Peter Hemington, a partner at BDO LLP said: “British businesses have made a strong start to 2018 despite the ongoing uncertainty about our nation’s future outside of the EU.
“However, if the government continues to stall on providing a clear Brexit strategy for businesses, the performance of UK firms will suffer.
“We need the government to align quickly and communicate its Brexit plan. It is crucial so that UK businesses can make informed investments to best prepare for the future.”