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Article: Survey forecasts lower British economic growth in 2005
- Article from:
- Xinhua News Agency
- Article date:
- November 25, 2004
CopyrightCopyright 2004 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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Survey forecasts lower British economic growth in 2005
LONDON, Nov. 25 (Xinhua) -- A leading British business
organization scaled back on Thursday its forecast for British
economic growth in 2005, saying the combination of high oil and
commodity prices, slowing global growth and recent rises in British
interest rates would hit demand at home and abroad.
The Confederation of British Industry (CBI) said in its latest
quarterly economic forecast that all the negative factors would cause
growth to slow in 2005 before recovering modestly in 2006.
The CBI revised Britain's 2005 GDP growth downwards by 0.3
percentage points to 2.5 percent. Looking ahead to 2006 for the first
time, the forecast ...