UK DATA: BCC: Raises UK 2012 GDP forecast to -0.1% from -0.4%
–BCC: Cuts UK 2013 GDP forecast to 1.0%; cuts 2014 to 1.8%
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The British Chambers of Commerce has raised its 2012 GDP forecast
to -0.1% from -0.4% in it September forecast round, and has cut its 2013
prediction to 1.0% from 1.2% and its 2014 forecast to 1.8% from 2.2%.
The cuts to the BCC’s growth forecasts come just a day ahead of the
Autumn Statement, which is based on the Office for Budget
Responsibility’s forecasts. The OBR is also expected to cut its growth
forecasts from 0.8% this year, 2.0% growth in 2013 and 2.7% in 2014.