From The BBC:
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“This country has to live within its means” says George Osborne
The UK economy should bounce back next year but the risk of a relapse remains high, a business group has warned.The British Chambers of Commerce expects the economy to grow 1.1% in 2010, almost double its previous forecast of 0.6% made in June. It says unemployment will peak at just above 3 million, fewer than the 3.2 million forecast previously. However, it said that sustaining the recovery would prove challenging given the UK’s debt burden. “The upturn in the economy has probably already started and we could see a relatively strong bounce-back in the next few quarters,” said chief economist David Kern. “But sustaining the recovery will be very challenging and the risks of relapse are high,” he added. The group expects the UK economy to shrink by 4.3% this year, more than its June forecast of 3.8%. This was because the decline in economic activity in the firs…
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