Britain to exit recession this year: Industry body
The battered British economy will emerge from a deep recession in the second half of this year, but 2010 will be tough, the Confederation of British Industry forecast on Wednesday.
"The UK economy is expected to emerge from recession through modest growth in the third and fourth quarters of this year, but constraints on demand will ensure that growth in 2010 is fragile," the CBI said in a statement.
Britain's biggest organisation of employers forecast that gross domestic product (GDP) will grow by 0.3 percent in the third quarter from the previous three months, and expand 0.4 percent in the fourth quarter.
"Near-term economic prospects are brightening," said the major business lobby group.
"A recovery is underway in the global economy, which has been boosted by substantial fiscal and monetary stimuli, and the inventory cycle is starting to turn, both at home and abroad, which is helping to lift production.
"However, the pace of recovery in 2010 is expected to be slow," it added.
The economy will experience anaemic growth of just 0.1 percent in the first three months of 2010, and 0.3 percent in the second quarter, the CBI also predicted.
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