CBI: UK GDP to expand by 1.7% in 2011

9 May 2011

Britain is set for a lethargic period of economic growth throughout the remainder of 2011 as the nation continues its post-recession recovery.

That is according to the latest forecast from leading business group the Confederation of British Industry (CBI), which has predicted the UK will experience gross domestic product (GDP) expansion of 1.7 per cent this year and 2.2 per cent in 2012.

This represents a slight drop on the previous estimations of 1.8 and 2.3 per cent respectively which the CBI attribute primarily to the fact that growth will remain "slow and patchy" in the near future.

John Cridland, director-general of the body, commented: "Although there are a number of risks to the UK's economic outlook, we continue to expect that the recovery will make further headway this year and next, but the pace will be sluggish."

This correlates with the view of a study by the National Institute of Economic and Social Research, which stated recently that the nation's GDP will expand at a rate of 1.4 per cent this year.

By Asim Shah

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