Monday, April 11, 2011

Move along; nothing to see.

IMF cuts UK economic growth forecast for 2011 to 1.75%

The International Monetary Fund (IMF) has cut its 2011 growth forecast for the UK economy to 1.75%, its third downgrade in a year. The cut cements the widely held view that Britain faces a year of low growth and rising unemployment with little prospect of a job-creating recovery until later in 2012. It will increase the pressure on the chancellor, George Osborne, to boost Britain's growth prospects. The Washington-based agency said on Monday in its half-yearly World Economic Outlook that its lower growth target, down from 2.1% last April, was the result of the UK's "necessary" front-loaded fiscal consolidation which will dampen domestic demand.

Posted by sibley's b'stard child @ 04:26 PM (1403 views)
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One thought on “Move along; nothing to see.

  • This was widely tipped at the w/end.

    I’m surprised that nobody seems to be suggesting billions and billions be pumped ito the public sector and wasted!

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