Business News 07 Mar 2013

BCC cuts growth forecasts but says Britain will avoid 'triple-dip' recession



The British Chambers of Commerce (BCC) has downgraded its growth forecast for this year amid ongoing uncertainty over the UK economy.

Publishing its latest predictions for the economy, the business lobby group cut its growth forecast from 1% to 0.6% for 2013 and from 1.8% to 1.7% for 2014.

It said its downward revision was due to numerous factors, including the contraction of GDP in Q4 2012 and 'worsening prospects in the Eurozone'.

However, it added that speculation over the UK entering a 'triple-dip' recession was currently 'pessimistic'.

Read more at http://tinyurl.com/atukcv3