1. National

UK economy 'to hit 2008 peak by summer'

The UK economy will exceed its pre-recession peak by the summer, according to upgraded forecasts from a leading business lobby group today. The British Chambers of Commerce (BCC) believes the UK will grow by 2.8% this year.

View all 3 updates ›

BCC: UK Businesses 'expanding and creating jobs'

The BCC believes the UK will grow by 2.8%. Credit: Stefan Rousseau/PA Archive/Press Association Images

The director general of the British Chamber of Commerce has said that UK businesses are "expanding and creating jobs".

John Longworth said: "Our economic recovery is gaining momentum. Businesses across the UK are expanding and creating jobs, and our increasingly sunny predictions for growth are a testament to their drive and ambition."

The BCC expects the first increase in interest rates will happen in the autumn next year - one quarter earlier than previously envisaged, before rising to 1.5% in the second half of 2016. GDP will be 2.5% next year and in 2016.

More top news