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UK economy 'set for subdued 2011'

Date Added: 08/04/2011  

Businesses across the UK could be set to struggle financially once again throughout the coming year, it has been suggested.

According to James Roberts, the country's economic outlook is "lacklustre" for the near future as Britain continues to suffer from the after-effects of the worldwide monetary slump.

Indeed, Mr Roberts noted that the UK may even slip back into a state of recession if official financial data for the first three-month period of 2011 is "disappointing" after the fourth quarter of last year witnessed contraction.

"I think the economy is going to grow, but by a very small amount," he added.

These comments came after the publication of analysis by the Organisation for Economic Co-operation and Development earlier this week (April 5th) predicted Britain's gross domestic product will expand by one per cent in the second quarter of 2011.

Mr Roberts agrees with this estimation and added: "I really don't think growth is going to be particularly good this year."

Posted by Julie Cutts

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