The UK economy is stabilising and the worst of the recession has passed, according to the latest forecast from the CBI.
The business group said it expects to see modest growth to resume during the first three months of next year, with the pace of growth gradually picking up during the year.
Supported by low interest rates and quantitative easing, output is predicted to flatten out in the second half of 2009, with quarter on quarter growth of 0.1 per cent and 0.3 per cent due to be recorded in quarter one and quarter two of 2010 respectively.
"For positive growth to return, lenders need to feel more confident so that credit can start flowing again."
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