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News - 1 June 2012
British Chambers of Commerce cuts growth forecast
Amidst gloomy predictions for Europe, the British Chambers of Commerce (BCC) has reduced its forecast for UK economic growth in 2012 from 0.6% to just 0.1% but raised its forecast for next year from 1.8% to 1.9%.
BCC is also predicting that unemployment will increase from just over 2.6 million [8.2%] to 2.9 million [9%] in the third quarter of 2013, driven primarily by continued public sector spending cuts that are part of the coalition government’s deficit reduction plan.
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British Chamber of Commerce