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IMF cuts growth forecasts for UK
worldtraveller
Posts: 14,013 Forumite
The International Monetary Fund (IMF) slashed its growth forecasts for the UK today as it warned that the global economy is in a "dangerous new phase".
The UK will see gross domestic product (GDP) grow 1.1% in 2011, compared with the IMF's last World Economic Outlook report in April of 1.7%, and by 1.6% in 2012, compared with 2.3%.
The forecasts for the UK in 2011 fall behind projections for Germany, France, the US and Canada.
The Independent
IMHO they are still being wildly optimistic at 1.1%. I still believe that there is a high probability of negative GDP growth in both Q3 & Q4 of 2011.
The UK will see gross domestic product (GDP) grow 1.1% in 2011, compared with the IMF's last World Economic Outlook report in April of 1.7%, and by 1.6% in 2012, compared with 2.3%.
The forecasts for the UK in 2011 fall behind projections for Germany, France, the US and Canada.
The Independent
IMHO they are still being wildly optimistic at 1.1%. I still believe that there is a high probability of negative GDP growth in both Q3 & Q4 of 2011.
There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
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Comments
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Not the biggest surprise.
However, no doubt house prices would be expected to double in the next hour or so...
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I'll leave this one to Cilla. Take it away girl.........http://www.youtube.com/watch?v=yac8QygzwP00
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