Today news
About the same in other media
CBI revises next year’s economic growth forecast down to 5.1%
Reading now: 471
Economic forecasters have slashed expectations for Britain’s recovery and said further pain could follow, depending on the severity of the Omicron variant of Covid-19 and government action to avoid a “cliff edge” for business investment.
The Confederation of British Industry, the UK’s leading business lobby group, said in June that it expected the economy to expand by 8.2%.
But on Monday it cut that prediction to 6.9% and revised down its 2022 forecast from 6.9% to 5.1%.
It put the more pessimistic outlook down to weaker-than-expected output since its last forecast, with supply chain disruption among the factors that has placed a drag on the economy.
The accounting firm KPMG issued an even gloomier prediction, saying it expects growth to reach
Read more on theguardian.comAbout this in other media
Four banks in UK’s Covid-19 loan scheme temporarily stand down from public list fnlondon.com /2 years ago
UK’s advertising regulator clamps down on crypto ads under “red-alert priority” ambcrypto.com /2 years ago
Blackstone, KKR add London staff to prep for ‘tremendous growth’ fnlondon.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
