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Thursday 23 September 2010

Economy to grow in 2011, CBI predicts

The UK's economy will grow steadily in 2011, the Confederation of British Industry (CBI) has claimed.

According to the latest economic forecast by the organisation, the UK economy will grow by 1.6 per cent throughout 2010, up from 1.3 per cent predicted in its previous forecast in June.

The rise is largely attributed to companies rebuilding their stocks and employing new staff as they move out of the recession - a trend set to continue in 2011, according to Ian McCafferty, CBI chief economic adviser.

We expect exports to grow at a faster rate than imports, with net trade making a positive contribution to GDP growth during the coming 15 months," he explained.

The CBI rates also showed that UK exports are expected to grow by 3.5 per cent in 2010 and 6.4 per cent in 2011, with net trade expected to make a positive contribution to GDP growth rates throughout the forecast period.

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Posted by John Oak and Wayne Bly ADNFCR-1617-ID-800078975-ADNFCR

Source: The Sales Director News

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