CBI raises economic growth forecast for 2013
Business news 19 Aug 2013
The Confederation of British Industry (CBI) has raised its economic growth forecast for 2013 from 1% to 1.2%, amid signs of mounting confidence amongst UK businesses.
The higher forecast is double the pace of growth predicted by the Office for Budget Responsibility in March.
The lobby group has also revised its growth forecast for 2014 to 2.3% - up from 2% - as disposable income increases and business and housing investment support domestic demand
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