CBI Expects with Sluggish Growth Rate in UK Economy for Following Two Years

By: Logbookloanshelpline.co.uk  17/11/2012
Keywords: Secured Loans, loan against car

New financial reports released by CBI warns that in coming two years, UK economic growth will rise slowly and the economy has to struggle for more years to overcome recession. The CBI has further added that though there will be growth like economic position of UK, it will remain lackluster especially outside of the capital. The reports warn that UK would face the results of deep economic crisis of four years in coming years also. New economic background of UK has been changed in current year and it is slow in compare of normal growth rate of years before recession period.


CBI feel that there will be moderate growth rate as seen in previous years or maximum of two percent growth can be recorded and will be considered as healthy economic growth. Lending business of UK has also been affected due to low economic situation. Traditional loan options have decreases but modern approaches like logbook loans or personal payday loans have been used by consumers despite of higher rates.


CBI director General John Cridland has added that new economic situation will be normal though there is steady growth but situation will be better than a decade ago when no growth was recorded. According to CBI predictions there will be no growth in this year even after one percent bounce back which helps to overcome recession in UK economy in third quarter of the year. CBI has expected to see 1.4 percent of growth rate in 2013 and little improvement in following year.


The CBI has also said that inflation rate can rise slightly again as based on the financial study. The higher rise may go up to 2.8 percent in around six month period as results of higher food prices and utility bills. First six month of 2013 will also see slighter rise in unemployment whereas the unemployment rate will decrease in last six months of 2013 and further in 2014.


Keywords: loan against car, Secured Loans

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