UK growth upgraded for 2012

Published on Tuesday, 04 December 2012 09:49
Posted by Scott Buckler

The British Chambers of Commerce today (Tuesday) has published its latest economic forecast, which sees UK growth in 2012 revised upwards from -0.4% to -0.1%

Although this is encouraging news for the UK economy, forecasts for the next two years have been downgraded from 1.2% to 1.0% in 2013, and from 2.2% to 1.8% in 2014. Businesses are resilient and have the ambition needed to drive our national recovery forward.

But reduced global growth prospects, and the possibility of more reductions in current spending will slow the pace of UK recovery in 2013 and 2014. We hope to see the Chancellor using his Autumn Statement tomorrow to introduce the bold measures needed to support growth, job creation, exports, investment,and business confidence.

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