|
The latest CBI forecast predicts things
are going to get worse for the economy
before they get better.
According to the CBI press release:
“...it will take until the second half
of next year before the impact of interest
rate cuts, falling inflation, the relative
weakness of sterling, plus the fiscal
boost, start to have a stabilising effect.
The rapidly deteriorating global
economy and the continued difficulties UK
businesses are facing in accessing credit
will push the economy deeper into
recession in 2009.”
CBI predictions include:
- the recession will last throughout
2009;
- the economy is expected to contract
by 3.3%;
- unemployment will reach close to 2.9
million by the end of the year; and
- the economy is expected to stabilise
early next year with the recovery
building throughout 2010.
To read more about the CBI’s
predictions visit the links below.
Internet links:
CBI press release
CBI forecast |
