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News - 12 January 2004
Reasons to be cheerful about the economy
BDO Stoy Hayward says UK economic growth will accelerate in the first half of 2004, forced up by business optimism and output and its expects inflation and interest rates to rise slowly.
The accountancy firm's latest 'poll of polls' shows that optimism and output are at their highest since May 2000. It adds that demand for goods will grow in both domestic and international markets.
But the group says that the Bank of England will avoid raising interest rates in the first quarter of the year because of benign inflationary pressures and an expected slowdown in consumer spending following the Christmas splurge.
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BDO Stoy Hayward