Business group, the Confederation of British Industry (CBI), said the UK economy is in for a “sluggish” recovery this year, predicting growth of just 1% in 2010 and 2.5% in 2011.
The forecasts are slightly below the Government’s target of 1.25% this year and 3.5% for 2011.
Richard Lambert, director general of the CBI, comments: [...]
According to leading economic think tank, the National Institute of Economic and Social Research (NIESR), the UK economy grew by 0.3% in the December to February period and has expanded by 0.7% since last September’s slump.
The NIESR’s latest predictions come just a few weeks after the Office for National Statistics (ONS) revealed the UK economy [...]
The Bank of England’s Governor, Mervyn King, is to give the latest growth and inflation forecasts for the UK economy later today, with one analyst expecting it to be a “downbeat affair“.
Its quarterly Inflation Report will give the latest predictions on both the country’s economic output and the rate of inflation.
It is also expected [...]