Positive signs of continued economic recovery
The British Chambers of Commerce (BCC) has said that the UK economy continued to grow in the second quarter of 2010.
After collecting data from 5,600 businesses across the UK, the BCC has predicted growth of between 0.6% and 0.7% during the three months to the end of June.
It is not all good news.
There remain concerns about the prospects for the service sector and the cost of raw materials is a worry for 80% of their manufacturing members. This is likely to put pressure on prices.
Another measure of economic recovery is new car registrations. The number of new registrations was up 10.8% in June compared to the same month last year.
A big contributor to this, according to the Society of Motor Manufacturers and Traders, was fleet registrations which were up by 25% compared to this time last year.
Whilst continued economic recovery in the UK is far from secure, this data should gives the markets a positive boost after a couple of weeks when concerns about the state of global economic recovery pushed them back.