BCC Cuts Its Growth Forecast

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Source: Bloomberg
According to the BCC, the U.K. economic recovery will go worse than analysts estimated and British economy needs more help from the government through boosting company investment. The British Chamber of Commerce decreased its growth projection for 2013 from 1.2% to 1% in September and for 2014 growth from 2.2% to 1.8%. The U.K. recession resulted in 1% growth in the third quarter, while The Bank of England expected a "zig-zag" pattern for GDP and decline by 0.1% in this quarter.

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