By Claire West
The UK200Group of independent accountancy and lawyer firms has commented on today’s better-than-expected GDP figures, showing 1.1 per cent growth in the second quarter of 2010.
Jonathan Russell, partner, ReesRussell and vice-president UK200Group: “We probably need to wait and see what happens in the coming quarters. The first quarter of the year was severely disrupted by the heavy snow and the building industry in particular will have benefited from the better weather in the second quarter".
“With the volcanic ash cloud in the second quarter disrupting air travel there may well have been a switch to UK-produced goods and services, while the election and the emergency budget may well have skewed some of the buying and investment decisions of businesses"
“With these sorts of factors all in the first six months of the year, any one of which could vary activity, it is hard to draw conclusions. Most small and medium-sized firms take the view that it is still one day at a time and any recovery is seen as very fragile.”
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