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UK says economic growth to slow down in 2011

UK says economic growth to slow down in 2011

Britain's Treasury chief says economic economic growth this year will be slower than previously forecast.
George Osborne told legislators Wednesday that an independent economic forecasting agency created last year expects the economy to grow by 1.7 percent, down from the previous forecast of 2.1 percent.
Osborne, who was presenting the government's annual budget, said the Office for Budget Responsibility trimmed the forecast because of rising high inflation, including rising commodity prices, and comes after a fall of 0.6 percent in GDP in the fourth quarter of last year.


Updated : 2021-01-16 11:06 GMT+08:00