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CBI: Economic recovery to be sluggish

Date Added: 23/09/2010  

Looking for business debt advice in Birmingham? Call 4R Business Recovery for help

Businesses searching for company debt advice have been told by the Confederation of British Industry (CBI) to expect a "sluggish" economic recovery next year.

According to the business organisation, the UK economy will grow by 1.6 per cent during 2010, an upward revision from its last forecast of 1.3 per cent.

But it is now claiming growth will be just two per cent in 2011, down from a prediction of 2.5 per cent earlier in the summer.

The CBI's director-general Richard Lambert stated that there is a "degree of uncertainty" regarding the country's economic future.

"Our view is that the UK’s tentative recovery will be sustained, albeit with weaker levels of growth," he said, adding that the government needs to focus its resources on sectors which can push growth forwards.

John Cridland, deputy director-general at the CBI, recently told businesses looking for company debt advice that the government was right to impose public spending cuts. 

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