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Britain’s Economy Forecast to Grow 2.7% Next Year
The British economy will to grow 1.4% this year and expand 2.7% in 2014, predicts the British Chambers of Commerce.
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The British economy will to grow 1.4% this year and expand 2.7% in 2014, predicts the British Chambers of Commerce.
Both estimates are than the BCC forecast earlier this year. But the group has lowered its outlook for 2015 by 0.1 percentage point to 2.4%, citing high household debt that will curb consumer spending.
BCC predicts this year's 5.3% drop in business investment will be reversed with 5.7% increases in 2014 and 2015.
The group now expects unemployment in the U.K. will drop to 7% by the third quarter of 2015, three months sooner than it predicted earlier this year.
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