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Thursday 24th of February 2011

News Tag: revise

December 20, 2010

CBI revises UK economic growth forecast

by Kay Murchie
Employers’ group, the Confederation of British Industry (CBI), has today revised down its economic growth forecast for the UK. The group said stubbornly high inflation and public sector job cuts will slow the economic recovery with growth falling to just 0.2% in the first quarter of 2011. However, it does not expect the UK fall back into recession and expects growth to rise ...

December 5, 2010

BCC revises its forecast for UK economic growth

by Kay Murchie
The British Chambers of Commerce (BCC) has revised its forecast for UK economic growth, in light of austerity measures, the euro zone debt crisis, the VAT hike and the weak housing market. Many experts and business organisations have said the tough austerity measures, introduced by the Government to trim the deficit, will undoubtedly hit growth. As a result, the BCC is ...

November 24, 2010

US Fed unveils November minutes

by Kay Murchie

October 26, 2010

S&P revises its outlook for UK economy

by Kay Murchie
Credit rating agency Standard and Poor's (S&P;) has today expressed its support for the Coalition Government’s handling of the UK economy after revising its outlook on the UK economy to "stable" from "negative" and affirmed its top AAA credit rating for Britain. The revision came on the same day that the Office for National Statistics (ONS) revealed UK economic growth ...

September 20, 2010

CEBR: Global economy not heading for double dip

by Kay Murchie
Influential think tank, the Centre for Economics and Business Research (CEBR), has today said the world is not in danger of a double-dip recession. Despite this, it has revised its growth forecasts downwards, now predicting that the global economy will expand by 3.5% this year and 3.4% next year. Down from the 3.7% and 4.1% respectively. Other economic forecasts are ...

July 14, 2010

Australia revises growth forecast downwards

by Kay Murchie
Australia has today revised its annual growth forecast from 3.25% to 3% due to uncertainty surrounding the global economic recovery. Australia is one of the few developed economies not to have fallen into recession like its counterparts throughout the world as it has benefited from an increase in commodity prices, while exports have received a boost due to demand from China for its ...

June 14, 2010

CBI revises growth prospects for UK economy

by Kay Murchie
Releasing its latest economic forecasts today, the Confederation of British Industry (CBI) is forecasting that the economy will expand by 1.3% in 2010 - slightly higher than its forecast of 1% in March. The business group revised its growth forecast upwards due to a strong recovery in the manufacturing industry. However, it left its prediction for growth in 2011 unchanged at ...

OBR set to downgrade UK growth prospects

by Kay Murchie
The newly-established Office of Budget Responsibility (OBR) is scheduled to publish growth forecasts later and they are likely to be much lower than the previous Labour Government's predictions. According to economists, the OBR, which is led by former Treasury official Sir Alan Budd, is expected to say ex-Chancellor Alistair Darling's 2011 forecast of 3% - 3.5% was too ambitious. Jonathan Loynes ...

November 30, 2009

Chancellor set to admit recession worse than feared in pre-Budget report

by Kay Murchie
In next month’s pre-Budget report, Chancellor Alistair Darling is expected to sharply revise his forecast downwards for the UK economy, according to Treasury sources. The Chancellor is expected to say that the UK economy contracted by 4.75% in 2009 - far more than the 3.5% he predicted in March’s Budget. However, while he is expected to admit that ...

November 19, 2009

OECD: Recovery and growth in 2010 in all world economies

by Kay Murchie
Following the worst recession for decades across the world’s major economies, the Organisation for Economic Co-operation and Development (OECD) is expecting growth and recovery in 2010. In its annual Economic Outlook, the Organisation upgraded its growth forecasts for next year, with world economic output contracting by 1.7% this year and rising by 3.4% in 2010. However, the ...

September 6, 2009

BCC revises GDP forecast

by Kay Murchie
In its quarterly update, the British Chambers of Commerce (BCC) said the UK economy will contract by 4.3% in 2009 and will expand by 1.1% in 2010 (higher than the 0.6% increase forecast in its last update). In June, the BCC forecast the economy would contract by 3.8% in 2009. However, its revised forecasts are broadly in line with the Organisation for Economic Co-operation ...

July 7, 2009

NIESR report dashes hopes of a imminent recovery in the UK

by Kay Murchie
The National Institute of Economic and Social Research (NIESR), the influential think tank, has forecasted that gross domestic product (GDP) fell 0.4% in the three months to June - the fifth consecutive quarter of decline. Official GDP figures for the April to June period are due to be released at the end of this month. At the end ...

May 15, 2009

Repossession rise but lag behind lenders’ forecast

by Gill Montia
Repossession rise but lag behind lenders' forecast
The Council of Mortgage Lenders (CML) has reported that repossessions by first-charge mortgage lenders stood at 12,800 during the first quarter of 2009. The total includes buy-to-let loans but excludes instances where a "receiver of rent" has been appointed as an alternative to repossession. The figure compares with 10,400 repossessions in the final quarter of 2008, and 8,500 a ...