The CBI expects the UK economy to continue to grow, and at a slightly faster pace in 2010 than had been expected. But the pace of recovery looks to be more sluggish in 2011 than previously forecast, following measures announced in the emergency Budget to deal with the deficit.
In its latest economic forecast, the CBI predicts that the UK economy will grow by 1.6% in 2010, up from 1.3% in its previous forecast in June. The slight upward revision reflects better than expected growth in the second quarter this year as companies began rebuilding their stocks.
The CBI has revised down its GDP forecast for 2011, to 2.0% from 2.5% in June.
The CBI expects the economy to grow by 0.3% and 0.6% in the latter two quarters of 2010.
QMT News: October 2010
Economic recovery, but growth will be restrained in 2011 - CBI
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