Economic and business outlook December 2010: slow recovery in UK economy expected over 2011 and 2012

Economic and business outlook December 2010: slow recovery in UK economy expected over 2011 and 2012
Document type
Report
Corporate author(s)
Confederation of British Industry
Publisher
CBI
Date of publication
1 December 2010
Series
Economic & Business Outlook Quarterly
Subject(s)
Trends: economic, social and technology trends affecting business
Collection
Business and management
Material type
Reports

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This issue of the CBI’s Economic and Business Outlook finds that the UK GDP growth has been surprisingly strong over Q2 and Q3, but is likely to be slower over the next few quarters. The recovery going forwards is likely to be better supported by business investment and net trade however. Meanwhile inflation remains sticky, but the MPC is still split over the degree of underlying pressure on prices in the medium-term. The CBI continues to forecast 2.0% growth in the UK economy in 2011. With the recovery expected to proceed slowly, we predict that growth will only pick up to 2.4% in 2012. Inflation in 2011 is higher than previously forecast and is not expected fall sharply in 2012. Gradual interest rate rises are sill expected to begin in the spring of 2011, and we see Bank Rate reaching 2.75% by Q4 2012.

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