Future is not so bleak here, says Chamber

Monday 19th January 2009, 2:29PM GMT.

Guernsey’s micro-economy is staying afloat despite UK business leaders warning of a bleak 2009.

A survey conducted by The British Chambers of Commerce described the UK economy as suffering a ‘frightening deterioration’ towards the end of 2008.

The BCC said its survey results, of almost 6,000 firms which employ 680,000 people, were the worst since it began in 1989.

A separate report suggested it had been the worst December for UK retail sales in almost 15 years.

Guernsey’s Chamber of Commerce was asked to take part in the survey but, in this instance, thought it was not appropriate.

Chamber director Barry Cash (pictured) said island businesses were not affected to the same extent and bringing them into the equation could have clouded the results.

‘It is slightly different over here because of our micro-economic climate,’ he said.

Mr Cash said some retailers had reported good sales in January.

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View more: Chamber Of Commerce news, Recession news.

1
Frank

January 19, 2009 at 6:54 pm

It worries me that “business leaders” have such a blinkered view of the world economy. We know from past experience that Guernsey lags behind in feeling the effects of any economic problems in the UK and rest of the world. I do hope his predictions are right, but fear his over optimism is unfounded.

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2
Jackie

January 21, 2009 at 4:34 pm

I know for a FACT that a number of local retailers are under extreme pressure from high rentals, loss of market share and pressure from the multis that have set up here.

I’ve watched for the past year or so the Chamber of Commerce pieces in the GP; the more I think about it, the more detached from reality they appear?

My family will not be renewing their membership this year; unnecessary subscriptions are one of the first things to go in a correction.

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