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Economic Recovery In U.K. To Remain Sluggish In 2010: CBI

The recovery in the U.K. economy is expected to remain sluggish during 2010, the Confederation of British Industry said on Monday.

In its latest economic forecast, the CBI said the economy will grow in the first two quarters of 2010, by 0.3% and 0.4% respectively, and by a slightly faster 0.5% in the next two quarters. The CBI forecasts annual GDP growth of 1% in 2010, followed by 2.5% in 2011.

Richard Lambert, CBI Director-General said, “The economic outlook is improving, but the lack of a clear driver for growth will make for a bumpy ride in the months ahead. The CBI expects the recovery in 2010 to be slow and sluggish, with few signs of real strength until well into next year.”

via Economic Recovery In U.K. To Remain Sluggish In 2010: CBI | Daily Markets.

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