‘County’s economy paints a more positive picture’

THE chief executive of the Northamptonshire Chamber of Commerce has said the county’s economy is performing better than the “pessimistic” national economic figures which show the UK in recession.

It was announced last week that the UK economy had contracted for the second consecutive quarter, meaning the country is back in recession.

Paul Griffiths, chief executive of the Northamptonshire Chamber, said the data was based on only 40 per cent of information and did not reflect the “underlying trends” in the county’s economy.

He said: “This return to recession is disappointing and paints an unduly pessimistic picture of the economy. It is also contrary to what we have been hearing from the companies in our membership.

“Our own local quarterly economic survey have shown a more positive picture and I believe these give a more accurate indication.”

Mr Griffiths added the estimate by the Office for National Statistics that service sector output rose by only 0.1 per cent in the first quarter of the year would be seen as “too low” by most analysts.