GDP growth forecast

GDP growth forecast: BCC

  • BCC upgrades its GDP growth forecast from 0.6% to 0.9% in 2013, from 1.7% to 1.9% in 2014, and from 2.2% to 2.4% in 2015
  • Unemployment expected to reach 2.650 million in Q3 2014 – 50,000 higher than we predicted in March
  • Public sector borrowing is forecast at £117.5bn in 2013/14, £2.5bn lower than the OBR predicted in March 2013
  • Household consumption to grow by 1.3% in 2013, 2.0% in 2014 and 2.4% in 2015
  •  UK export volumes are forecast to fall by 0.5% this year.
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