CBI has revised down its forecast for the UK economy

The CBI has revised down its forecast for the UK economy

The CBI now expects GDP growth to be 0.9% in 2011 and 1.2% in 2012, down from 1.3% and 2.2% respectively. It forecasts quarter-on-quarter GDP growth to be 0.0% in Q4 2011 and 0.2% in Q1 of 2012.

Total business investment is expected to grow by 0.6% in 2011, down from 3.7% in the previous forecast, and 6.9% in 2012, down from 9.3%.

 

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