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UK economic growth predicted for 2011 and 2012
Published on 23-04-2010Email To Friend    Print Version

According to a Times report from Ernst & Young Britain  is heading for strong growth next year and in 2012 on the back of exports and investment, but there will be only a modest upturn this year.

 

 

It predicts weak 1% growth this year, giving way to 2.7% next year and 3.4% in 2012 - close to Treasury forecasts that have been widely dismissed as unrealistically optimistic.

 

 

The prediction comes ahead of a key week of economic data, which will culminate on Friday with the release of figures for the UK's first-quarter GDP. Analysts expect a rise of 0.4%, in line with the fourth quarter of last year.

 

 

But some analysts warn that the weak start to the year - with both manufacturing and service sector output down in January - coupled with the tendency of the Office for National Statistics to make low initial estimates, could produce a lower figure.