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Confederation of British Industry raises outlook for 2010; growth to slow in 2011

23-Sep-2010 1:09 PM

UK’s Confederation of British Industry’s Chief Economic Adviser, Ian McCafferty, commented that the outlook for growth for 2010 has “been lifted slightly, due to somewhat faster economic activity in the second quarter”, from 1.3% to 1.6% (Bloomberg, 22-Sep-2010). CBI added that the UK economy would likely grow slower than previously forecast in 2011, stating: “The action to get the public finances back onto a sustainable footing will no doubt temper the recovery going into 2011.”