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| Version 1 | Version 2 |
|---|---|
| Business groups offer mixed news on recovery hopes | Business groups offer mixed news on recovery hopes |
| (about 1 hour later) | |
| The CBI has predicted the UK will avoid a double dip recession, but two other surveys suggest the economy may worsen. | The CBI has predicted the UK will avoid a double dip recession, but two other surveys suggest the economy may worsen. |
| The employers' organisation, the CBI, said it expected growth of 0.9% in 2012 and 2% next year. | The employers' organisation, the CBI, said it expected growth of 0.9% in 2012 and 2% next year. |
| However, a separate survey from services firm BDO suggests company turnover continues to fall, indicating a recession is likely. | However, a separate survey from services firm BDO suggests company turnover continues to fall, indicating a recession is likely. |
| And the Chartered Institute of Personnel and Development (CIPD) found employers more likely to lay off staff. | And the Chartered Institute of Personnel and Development (CIPD) found employers more likely to lay off staff. |
| The CBI published its predictions in its regular economic forecast. | The CBI published its predictions in its regular economic forecast. |
| It found companies were starting to invest in new equipment and in finding new export markets. | It found companies were starting to invest in new equipment and in finding new export markets. |
| The lobby group believes the manufacturing sector will expand this year as exporters invest in new equipment. | The lobby group believes the manufacturing sector will expand this year as exporters invest in new equipment. |
| It thinks the UK will avoid an official recession - two quarters of declining output in a row - by bouncing back from its 0.2% fall in the last three months of 2011 to growth of 0.2% in the first quarter of 2012. | It thinks the UK will avoid an official recession - two quarters of declining output in a row - by bouncing back from its 0.2% fall in the last three months of 2011 to growth of 0.2% in the first quarter of 2012. |
| Turnover falls | Turnover falls |
| However, the BDO survey of companies' turnover found it had fallen for the eighth month in a row. | However, the BDO survey of companies' turnover found it had fallen for the eighth month in a row. |
| The BDO's output index fell to 91.2 in January from 91.4 in December, where any figure below 95 indicates contraction. | The BDO's output index fell to 91.2 in January from 91.4 in December, where any figure below 95 indicates contraction. |
| "Undoubtedly, prospects for growth continue to be fragile - as the UK has already very likely entered a technical recession and the situation in the eurozone remains difficult to predict," said BDO partner Peter Hemington. | "Undoubtedly, prospects for growth continue to be fragile - as the UK has already very likely entered a technical recession and the situation in the eurozone remains difficult to predict," said BDO partner Peter Hemington. |
| Unemployment | Unemployment |
| The CBI also warned that the economy would remain difficult. | The CBI also warned that the economy would remain difficult. |
| "Economic conditions will continue to be tough, especially in the first half of the year and the UK recovery will depend on the successful resolution of the eurozone crisis," said director general John Cridland. | "Economic conditions will continue to be tough, especially in the first half of the year and the UK recovery will depend on the successful resolution of the eurozone crisis," said director general John Cridland. |
| "Weak wage growth and high levels of unemployment will continue to be a brake on household spending." | "Weak wage growth and high levels of unemployment will continue to be a brake on household spending." |
| A survey of 1,000 employers by the CIPD found the difference between the number of employers planning on bringing in new staff and those planning on cutting staff had widened to its highest level since 2009. | A survey of 1,000 employers by the CIPD found the difference between the number of employers planning on bringing in new staff and those planning on cutting staff had widened to its highest level since 2009. |
| The survey fell to -8 from -3, with any number below zero indicating more employers laying off workers. | The survey fell to -8 from -3, with any number below zero indicating more employers laying off workers. |
| "Whereas employers were in wait-and-see mode three months ago, more private sector firms, particularly among private sector services firms, have decided to push the redundancy button in response to worsening economic news," said Gerwyn Davies, public policy advisor at the CIPD. | "Whereas employers were in wait-and-see mode three months ago, more private sector firms, particularly among private sector services firms, have decided to push the redundancy button in response to worsening economic news," said Gerwyn Davies, public policy advisor at the CIPD. |
| The body warned unemployment could reach 2.85 million unless economic conditions improved. | The body warned unemployment could reach 2.85 million unless economic conditions improved. |
| Do you agree with the findings of these reports? How are you coping in the current economic climate? Are you an employer or employee? Send us your comments and experiences using the form below. |