CBI predicts that 2012 will show contraction

Graham_Devon

9 months into the year, the CBI have decided to make a prediction for 2012, and they say we shall contract by 0.3%.

Before this, they had said we would grow 0.6%. Theres a thread on here about it, but I'm not sure a certain scot would like it ressurected.

They now suggest 2013 will be the year of growth, up by 1.2%....reducing their prediction for 2013 from 2%.

They also say that downward pressure on wages will keep inflation close to the 2% target in 2013, and this will in turn lead to a rise in disposable incomes for 2013.

So they predict downward pressure on wages, but more disposable income, because prices will be rising at 2% instead of 4%? They also fill us in on what they economy is doing at the moment, and they say it's flat and we are in recession.

http://www.bbc.co.uk/news/business-19424729

Loving their forecast for this year!

Rinoa

Graham_Devon wrote: »

Loving their forecast for this year!

Yes. We're already aware how negative news makes you deliriously happy.

Loughton_Monkey

Graham_Devon wrote: »

.....They also fill us in on what they economy is doing at the moment, and they say it's flat and we are in recession......

Boy!

You have to hand it to these guys. I am positively blinded by their perspicacity, intelligence, and foresight.

Any debate on these boards cannot come within a million miles of this sort of supreme wisdom.

So I'm making no comment.

[Deleted User]

1.2% growth next year v this year wont amount to much really will it?
the basic truth is that under this tory led govt the economy is flatlining and will continue to do so

Thrugelmir

woodbine wrote: »

the economy is flatlining and will continue to do so

Hardly surprising. Government cutbacks are reducing Corporate profits.

Given the magnitude of the underlying correction within the economy. Then bumping along isn't at all bad.

Could be so much worse. Just take at the situation in Eire.