"Growth is starting again because we've got tentative signs of optimism"
- John Cridland, CBI Director-General
The Confederation of British Industry said the nation will avoid a technical recession in 2012 without additional Bank of England stimulus.
"Growth is starting again because we've got tentative signs of optimism," said CBI Director-General John Cridland on February 10.
"We're not assuming in our growth forecasts that there will be a further package of QE," he said, speaking about the Bank of England's quantitative-easing program.
The Office for National Statistics is to announce Claimant Count Change on Wednesday. The number of people claiming jobless benefits rose to 1.6 million in December and unemployment rose to 8.4 percent, the highest since January 1996.
© Dukascopy Bank