Economic growth continues into '98

Economic growth continues into ’98
Jon Mainwaring Further economic growth will continue in the UK for the rest of 1997 but a slowdown will occur in 1998, according to the Confederation of British Industry (CBI). In its quarterly economic forecast report, the CBI predicts the 3.1 per cent growth in GDP during 1997 will fall to 2.5 per cent in 1998. Sudhir Junankar, the CBI’s associate director of economic analysis, said the CBI expected “a significant slow down in the rate of economic growth during 1998, as export growth is hit by the strength of sterling and consumer demand comes off the boil as the impact of windfall gains from the demutualisation of building societies and life insurance companies eases”.

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