Relief Forecast for British Economy
Pl | 21.04.2009 16:23 | Analysis | Globalisation | World
The economic recession could be slightly relieved by the second half of this year, but that comeback will be slow and fragile announced the Board of the Confederation of British Industry. The economy of Great Britain entered into a crisis during the last quarter of 2008 with an increase in the rate of unemployment, falling housing prices and cuts in industrial exports.
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The director general of the Confederation, Richard Lambert, explained that aggressive tax cuts, weaker currency, low inflation and fiscal world incentive will reduce a further fall for the rest of the year.
In his opinion there are few signs of the hardest phase of the recession that is affecting the British economy because, although it has yet not halted, a slight return to growth is predicted for spring 2010.
According to the Confederation of British Industries, the crisis deepened more than expected during the first quarter of this year.
However, experts point out, a modest growth of 0.2 percent is predicted for the second half of 2010 after slowly reducing in 2009.
This institution announced that the economy will have fallen a total of 5.1 percent by the end of the crisis, less than the 5.9 percent observed during the recession of the 80s.
It is also believed that inflation of prices of consumer goods should fall below 2 percent, according to predictions of the Bank of England for the second quarter of this year.
In his opinion there are few signs of the hardest phase of the recession that is affecting the British economy because, although it has yet not halted, a slight return to growth is predicted for spring 2010.
According to the Confederation of British Industries, the crisis deepened more than expected during the first quarter of this year.
However, experts point out, a modest growth of 0.2 percent is predicted for the second half of 2010 after slowly reducing in 2009.
This institution announced that the economy will have fallen a total of 5.1 percent by the end of the crisis, less than the 5.9 percent observed during the recession of the 80s.
It is also believed that inflation of prices of consumer goods should fall below 2 percent, according to predictions of the Bank of England for the second quarter of this year.
Pl
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