Just two days ahead of Wednesday’s announcement of the 2009 budget, Britain’s largest business organization CBI has revealed its latest economic forecast, saying the country will only see a “slow and weak” GDP rise by Spring 2010.
The Confederation of British Industry also sent a message that the worst of the recession may be over, as the first three months of this year has seen the country plunge much deeper in the recession than expected.
Following the worst of the quarterly falls in GDP this year, the recession in Britain is predicted to moderate in the second half of 2009.
However, the country is seeing the falls in both the CPI and RPI inflationary levels, with the latter even falling into negative territory, the first deflation in 50 years. The falling indices are believed to be detrimental to the country’s economic rescue endeavours.
So now it is time to see what are the details in Chancellor Alistair Darling’s budget, which will chart Britain’s recovery course, and even decide on the fate of the country’s economy.
For the full story by Dongying Wang, published by Xinhua News Agency in April 2009, please click here. Also, please return to the blog to post your comment.
Photo by Sylvain Bourdos
1 comment:
Strength of domestic economy will sustain the external challenges. A nation should maintain confidence so that economy will remain afloat.
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