2012-09-05 09:25:08 - United Kingdom Business Forecast Report Q2 2012 - a new country guide report on companiesandmarkets.com
The economy is recovering, but with fiscal cuts looming and unemployment stubbornly high, the rate of growth will be fairly tepid. Given the marked slowdown in domestic and global economic activity, we now expect the Bank of England to hold the bank rate at 0.50% through to end-2013.
Despite numerous ructions between the ruling Conservatives and Liberal Democrats, we expect the coalition government to hold firm through to the next parliamentary election in 2015.
Major Forecast Changes
The continued downturn in global economic activity has prompted a downward revision to our growth forecasts. We now project growth of 0.6% in 2012 and 1.7% in 2013, from 1.6% and 2.1% previously.
Key Risks To Outlook
Downside Risks To Medium-Term Growth: There are significant downside risks to
our economic growth forecasts, particularly stemming from the impact of fiscal consolidation and the eurozone sovereign debt crisis.
Upside Risks To Inflation: Should the pound remain broadly weak and global commodity prices edge higher, we would warn of upside risks to our inflation forecasts.The price of this business forecast report covers 4 quarterly reports on this country. This quarterly report will be downloadable instantly as a PDF document, with the 3 remaining reports delivered at regular intervals throughout the year.
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