Economic growth to contract in 2011

The UK economy may not grow as quickly as experts predicted. Predictions on the growth of the British economy have been altered in line with recent GDP figures. The economy will not grow as much as expected this year but growth in 2012 will surpass predictions according to forecasts from the British Chambers of Commerce (BCC). The group revised its GDP forecast for 2011 from 1.9% to 1.4% in its quarterly economic paper. This was attributed to the unexpected fall in GDP in the last three months of 2010 and the likelihood that interest rates may be increased in the second quarter of ...