The OECD has now stepped into line with others in downgrading its forecasts for growth for this year and next. In terms of the UK, it now expects GDP growth in 2011 to be 1.4 per cent, almost the same as in 2010, and to increase only to 1.8 per cent in 2012.
This is very similar to the latest Bank of England and other UK forecasters’ predictions for 2011 of 1.5 per cent. However, for 2012, it is a little below
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