U.K. Economy Starting to Show Positive Signs

One of Britain’s top business lobbying organizations has upped its economic forecasts for the U.K., arguing that growth will be boosted by a hike in business investment and exports.

The CBI (Confederation of British Industry), which represents around 240,000 businesses, said on Tuesday that it expected the economy to expand by 2.6 percent in 2014 – up from its earlier forecast of 2.4 percent. Next year, economic growth is seen at 2.5 percent, slightly lower than the 2.6 percent previous expected.

The economic expansion will be driven by a hike in business investment, which is expected to make a positive contribution to growth this year, according to the CBI. Business investment growth is seen rising 6.6 percent this year and 8.3 percent in 2015, having fallen by 3.7 percent in 2013.

CNBC

Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.