Menu
05/03/2012
UK Economy Faces 'Serious Challenges'
The economy is still facing "serious challenges", and it is predicted that unemployment will increase to almost three million next year.
According to research by the British Chambers of Commerce (BCC) debt levels are still too high and they have downgraded their prediction for UK GDP growth in 2012 to 0.6% (from 0.8%) - lower than GDP growth in 2011 of 0.8%.
Although growth will be slower in 2012 than the previous year, BCC’s forecast predicts growth of 1.8% in 2013, when prospects will improve.
Meanwhile the organisation also claims that a double-dip recession will be avoided, but that the Chancellor must “pull out the stops” to enable businesses to drive growth in the UK.
(LB/GK)
According to research by the British Chambers of Commerce (BCC) debt levels are still too high and they have downgraded their prediction for UK GDP growth in 2012 to 0.6% (from 0.8%) - lower than GDP growth in 2011 of 0.8%.
Although growth will be slower in 2012 than the previous year, BCC’s forecast predicts growth of 1.8% in 2013, when prospects will improve.
Meanwhile the organisation also claims that a double-dip recession will be avoided, but that the Chancellor must “pull out the stops” to enable businesses to drive growth in the UK.
(LB/GK)
Related UK National News Stories
Click here for the latest headlines.
03 May 2012
UK Economy Will Pick Up In 2012, Says CBI
The UK economy will see growth resume in the second half of 2012, with faster GDP growth during 2013, according to the latest quarterly CBI economic forecast. The CBI expects GDP growth in 2012 will be 0.6%, slightly down from its forecast in February of 0.9%. This is a direct consequence of the preliminary ONS figure for quarter one.
UK Economy Will Pick Up In 2012, Says CBI
The UK economy will see growth resume in the second half of 2012, with faster GDP growth during 2013, according to the latest quarterly CBI economic forecast. The CBI expects GDP growth in 2012 will be 0.6%, slightly down from its forecast in February of 0.9%. This is a direct consequence of the preliminary ONS figure for quarter one.
20 October 2006
Blair warns of 'catastrophic' global warming
Prime Minister Tony Blair has issued a stark warning that the world is close to a “catastrophic tipping point” on global warning. This news comes on the day Mr Blair will attend an EU Summit in Lahti, Finland to advise fellow European leaders on the serious consequences of the situation regarding the economy, supply of resources and peoples safety.
Blair warns of 'catastrophic' global warming
Prime Minister Tony Blair has issued a stark warning that the world is close to a “catastrophic tipping point” on global warning. This news comes on the day Mr Blair will attend an EU Summit in Lahti, Finland to advise fellow European leaders on the serious consequences of the situation regarding the economy, supply of resources and peoples safety.
15 September 2008
CBI Says UK Is In Early Stages Of Recession
The UK is in the early stages of a technical recession, the Confederation of British Industry (CBI) said today. In its latest forecast a shallow recession through the second half of 2008 means that growth in the economy in 2009 will be the lowest since 1992.
CBI Says UK Is In Early Stages Of Recession
The UK is in the early stages of a technical recession, the Confederation of British Industry (CBI) said today. In its latest forecast a shallow recession through the second half of 2008 means that growth in the economy in 2009 will be the lowest since 1992.
06 October 2005
Bank of England leaves interest rates on hold
The Bank of England has left UK interest rates on hold at 4.5% for the second month running. The Bank’s Monetary Policy Committee had reduced interest rates from 4.75% in August, in an attempt to reverse a slump in consumer spending. However, retail sales volumes fell at their fastest pace for 22 years last month.
Bank of England leaves interest rates on hold
The Bank of England has left UK interest rates on hold at 4.5% for the second month running. The Bank’s Monetary Policy Committee had reduced interest rates from 4.75% in August, in an attempt to reverse a slump in consumer spending. However, retail sales volumes fell at their fastest pace for 22 years last month.
29 January 2015
Sky To Launch New Mobile Phone Service
A new mobile phone service is to be launched by pay-TV company Sky in partnership Telefonica, O2's Spanish parent company. Sky, adding mobile to its internet, landline and TV, will use Telefonica UK's wireless network to offer the new service.
Sky To Launch New Mobile Phone Service
A new mobile phone service is to be launched by pay-TV company Sky in partnership Telefonica, O2's Spanish parent company. Sky, adding mobile to its internet, landline and TV, will use Telefonica UK's wireless network to offer the new service.
-
Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
