UK recovery in 2010 - CBI - Economy - News |

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

UK recovery in 2010 - CBI

UK recovery in 2010 - CBI

Category: Economy

Updated: 15/06/2009
First Published: 15/06/2009

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

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.

The business group said it expected a modest rise in GDP of 0.7 per cent across the whole of 2010. "The return to growth is likely to be a slow and gradual one; difficult credit conditions are still affecting business behaviour," said Richard Lambert, CBI Director-General.

"For positive growth to return, lenders need to feel more confident so that credit can start flowing again."

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.