UK 2011 Growth Outlook Trimmed to 2.6%

As part of its attempts to improve England’s financial woes, the new Conservative / Liberal Democrat government created an independent review board known as the Office for Budget Responsibility (OBR). Just one week before the government’s emergency budget, the OBR has cut growth outlook for next year to 2.6 percent from 3.25 percent, while slashing predictions for 2012 to 2.8 percent from 3.5 percent.

Despite the downgrade, Sir Alan Budd, chair of the OBR, stated that there was little chance that the UK economy could fall back into recession.

Source: London Times

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.