RTTNews - Monday, the Confederation of British Industry said it expects modest growth to resume during the first three months of 2010, with the growth rate gradually picking up next year. The business lobby said the GDP would flatten in the second half of this year, underpinned by low interest rates and quantitative easing.
Before recording a nil growth in the fourth quarter of 2009, the CBI sees a 0.1% quarterly expansion in the third quarter. The business group also predicts a 0.1% growth in the first quarter of 2010 and 0.3% in the second quarter.
Richard Lambert, CBI Director-General said, The return to growth is likely to be a slow and gradual one; difficult credit conditions are still affecting business behavior. For positive growth to return, lenders need to feel more confident so that credit can start flowing again.
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