Home Business news CBI revises next year’s economic growth forecast down to 5.1%

CBI revises next year’s economic growth forecast down to 5.1%

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Accountant KPMG is even gloomier, predicting 2.6% growth if social distancing rules are imposed

Economic forecasters have slashed expectations for Britain’s recovery and said further pain could follow, depending on the severity of the Omicron variant of Covid-19 and government action to avoid a “cliff edge” for business investment.

The Confederation of British Industry, the UK’s leading business lobby group, said in June that it expected the economy to expand by 8.2%.

Continue reading…Accountant KPMG is even gloomier, predicting 2.6% growth if social distancing rules are imposedCoronavirus – latest updatesSee all our coronavirus coverageEconomic forecasters have slashed expectations for Britain’s recovery and said further pain could follow, depending on the severity of the Omicron variant of Covid-19 and government action to avoid a “cliff edge” for business investment.The Confederation of British Industry, the UK’s leading business lobby group, said in June that it expected the economy to expand by 8.2%. Continue reading…