BCC Survey: UK export sales grew at the quickest pace since late-2014

Dhwani Mehta FXStreet

Reuters reported key findings from the British Chambers of Commerce (BCC) latest business survey earlier on the day.

Key Highlights:

Services companies, which make up the overwhelming majority of Britain's private-sector economy, reported the fastest growth in domestic and overseas sales since June's referendum

Manufacturers enjoyed the most rapid domestic sales growth since the third quarter of 2015, while export sales grew at the quickest pace since the final three months of 2014

Firms reported a robust short-run outlook

Much more uncertainty about the medium term as well as fears of sharply rising costs

"Many firms tell us their short-term expectations are strong, but that the medium-term picture is far from clear," said Adam Marshall, the BCC's director-general.

The BCC said raw material costs were having the biggest influence on prices since late 2011, and called inflation "a key risk to the UK's growth prospects"

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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