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Item Club Predicts Uk Economic Growth Of 2.8% This Year

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http://www.bbc.co.uk/news/business-32376418

Low inflation and stronger eurozone growth should help the UK economy expand 2.8% this year despite political uncertainty ahead of the election, according to an EY Item Club report.

It said low inflation was adding to the benefits of higher employment and the positive effects of lower oil prices.

Item Club chief economic adviser Peter Spencer said the financial markets seem prepared for further Greek problems.

But potential headwinds were a weak government and EU referendum, he said.

The forecast growth is slightly down on the 2.9% expansion that the Item Club previously predicted, due to official fourth-quarter GDP figures coming in weaker than expected.

The Item Club forecasts growth in 2016 of 3%, up from 2.9% estimated previously.

Inflation has fallen to zero in recent months and, along with improvements in employment, is boosting consumer confidence, the Item Club's spring forecast said.

Great news just in time for the election!!!

I wonder how far out this prediction will prove?

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