CBI FORECAST UPGRADE

Business lobby group the CBI has upgraded its forecast for the UK’s economic growth this year, from 2.5 per cent to 2.7 per cent. Continues low inflation and employment gains are cited as main factors for the uptick. Increased household spending, thanks in part to low inflation boosting pay, as well as wage growth finally picking up should help to drive growth. It also forecast a 5.8% increase in business investment. But it warns that volatility in the Euro zone, including Greece and Ukraine, was a risk to growth.

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