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UK economy 'making some progress'
The British economy is making some progress despite poor macroeconomic conditions and continued concern about the eurozone, according to the British Chambers of Commerce (BCC).
Its quarterly economic survey revealed that Q4 of 2012 saw stronger balances in both the manufacturing and service sectors, a jump in business confidence and plans to raise prices across the board.
Director general John Longworth welcomed the results but warned that there will continue to be major challenges ahead over the coming months.
"It is clear that economic growth remains weak and that nurturing it must be a top priority," he added, calling for "bold and imaginative measures" to help companies expand in 2013.
Commitments such as the creation of a new business bank should be carried out on schedule and to scale, Mr Longworth concluded.
This follows a report from Deloitte suggesting corporate leaders are more cheerful for 2013 than they were for the previous year.
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