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PPI: UK economy set for 'tough' 2011

The UK economy is set to have a "tough" 2011, according to the Centre for Economics and Business Research (Cebr).

The economic forecast published by the Institute of Directors (IoD) yesterday (November 16th), revealed that the economy is set to grow temporarily this year before stagnating in 2011.

Furthermore, the IoD predicted that gross domestic product is set to grow by around 1.2 per cent next year.

Owen James, an economist at Cebr, claimed that the forecast "is broadly in line" with the body's own view on the progress of the recovery.

He said: "The news from the IoD adds to the volume of data we have seen from business leaders which suggest 2011 is going to be a tough year for the UK economy.

"We see the measures announced to tackle the UK government's structural budget deficit as having a more negative impact on growth than the Office for Budget Responsibility [has predicted]."

Posted by Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt ADNFCR-2776-ID-800242081-ADNFCR

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