UK economy to grow slowly in 2011

10th August 2011

The CBI has recently changed its predictions concerning the growth of the United Kingdom’s economy. While the previous prediction had set out that the economy would grow at a rate of 1.7% a new, revised number was issued that indicated a prediction of a mere 1.3% growth, something that has been described as “sluggish.”

Despite this sobering news, the CBI still remains cautiously optimistic about the United Kingdom’s forthcoming economic growth. This is especially true concerning the predicted economic growth expected for 2012. "The economic outlook has become even more challenging but we still expect the economy to continue to grow modestly this year," the group said.

While the CBI may have some doubts about this year’s rate of economic growth, their opinion is certainly not shared by everyone. The United Kingdom’s Office for Budget Responsibility predicts a rate of 1.7% for 2011. Their estimate is higher than any other mainstream outlook on this year’s economic growth.

It goes without saying that even this level of modest economic growth remains very good news for job seekers. Any improvement in the economic situation of the nation is a harbinger of increased job creation, career opportunities, and employee recruitment; a trend that will continue as the economy continues to improve. – a UK, online recruitment agency