Stabilising economy

News

The UK economy is stabilising, with the worst of the quarterly falls in GDP behind us, but it will take until the beginning of next year before we see a return to growth, the CBI has said.

The UK economy is stabilising, with the worst of the quarterly falls in GDP behind us, but it will take until the beginning of next year before we see a return to growth, the CBI has said.

The UK’s leading business group expects modest growth to resume during the first three months of 2010, with the pace of growth gradually picking up during next year.

The CBI predicts that UK GDP, supported by low interest rates and quantitative easing, should flatten out during the second half of 2009, with quarter-on-quarter figures of -0.1 per cent and 0 per cent in quarter three and quarter four, and modest quarter-on-quarter growth of 0.1 per cent and 0.3 per cent in quarter one and quarter two of 2010.

Richard Lambert, CBI director-general said: 'The world recession has deepened, so it is not surprising that the UK economy has continued to suffer. However, the harshest period of the recession looks to be behind us, the economy is stabilising and this should continue during the second half of this year.

Register now to continue reading

Thanks for visiting The Engineer. You’ve now reached your monthly limit of news stories. Register for free to unlock unlimited access to all of our news coverage, as well as premium content including opinion, in-depth features and special reports.  

Benefits of registering

  • In-depth insights and coverage of key emerging trends

  • Unrestricted access to special reports throughout the year

  • Daily technology news delivered straight to your inbox

Register
Or continue by

Signing in with your registered email address