Commenting on the release of GDP figures, which show that output in the economy fell by 0.7% in the three months to June, Business West managing director Phil Smith said;
"Continued contraction in the UK economy for the third quarter in a row was widely anticipated. Our latest business surveys and indicators show that business, both locally and nationally, are struggling on a number of fronts. However, the extent of the fall is much bigger than expected and is a matter for immediate concern.
Businesses on the ground tell us that it is demand and local spending which is in need of stimulation. Ministers cannot expect firms to grow if they fail to take a long-term approach to creating an enterprise-friendly environment. Strong leadership and imagination is what is needed at the top to steer Britain's recovery away from a double-dip recession. Government must go further on measures to promote infrastructure investment, address the ongoing issue of finance availability and commit to meaningful deregulation.
This said, we must remember that these growth figures are preliminary estimates, susceptible to revision at a later date. Business confidence is notoriously fickle and companies across the country will be looking towards the upturn benefits of a summer of celebrations, which have the potential to address the current fortunes of the economy."