The Confederation of British Industry(CBI) has upped its forecast for British economic growth to 2.4% for 2014, from 2.3% they forecast in August.
Said:
- Recovery that started in the service sector has fanned out to manufacturing and construction
- Recovery is shaping up to be more broad-based
- There remained headwinds from a sluggish euro zone recovery and slowing growth in emerging markets
- Unemployment would fall faster than it previously expected, but would remain above 7%
- Forecasts 1.4% expansion in 2013
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