Monday, February 16, 2009

CBI revises their gloom

Global Confidence Crisis Pushes UK Deeper Into Recession

The rapidly deteriorating global economy and the continued difficulties UK businesses are facing in accessing credit will push the economy deeper into recession in 2009, the CBI said today (Monday 16th February, 2009). The CBI is publishing its latest economic forecast against a worsening international backdrop. Last month the International Monetary Fund revised its forecast for world economic growth sharply downwards, and recent economic data have dashed hopes that growth in the emerging economies would soften the impact of the global downturn. The UK’s leading business group predicts the recession, which began in the third quarter of 2008, will last throughout 2009. The economy is expected to contract by 3.3 per cent and unemployment will reach close to 2.9 million by the end of the year

Posted by 51ck-6-51x @ 08:24 AM (668 views)
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