CBI predicts patchy and slow growth
May 1st 2011 The UK economy will continue to make headway in 2011, but growth will be patchy and slow, according to the CBI’s latest economic forecast.
Despite a squeeze on household income, and public spending cuts, the UK’s leading business group expects this year’s GDP growth rate to be 1.7%, marginally lower than the previous forecast of 1.8%. Growth of 2.2% is expected in 2012, down slightly from February’s forecast of 2.3%.
Stronger net exports are expected to make an important contribution to the UK economy both this year and next. Export growth of 8.6% in 2011 and 7.6% in 2012 is expected to outpace the rise in imports over the period, resulting in a net positive impact on GDP.
Business investment is also expected to help drive economic growth. Survey evidence shows historically strong investment intentions, with growth of 8.8% in 2011 and 8.7% in the 2012 forecast. More articles from Handling & Storage Solutions: | 
