Wednesday, January 27, 2010
Dealers look to second half for recovery
It was responding to figures from the Office for National Statistics, which showed the UK economy had grown by 0.1 per cent in the last three months of 2009.
The economy had previously contracted for six consecutive quarters - the longest period since quarterly figures were first recorded in 1955.
David Hudson, London Head of Formal Insolvency, Baker Tilly Restructuring and Recovery LLP, said:
"Motor dealers will be more concerned at the end of the scrappage scheme on their franchises than a 0.1 per cent increase in the economic health of our country.
"Only when the capacity gap sufficiently narrows, which we don't expect until the second half of the year, will the majority of the manufacturing base see genuine recovery.
"The stark fact is that many businesses will fight to survive during 2010 and the tiny, 0.1 per cent increase in Britain's economic health will mean nothing to them on a practical level."
He said there was "a long way to go".
DATED: 27.01.10
FEED: MT
