UK Growth Forecast Down to 0.1%

The economic growth of the United Kingdom is now forecasted to be at 0.1 percent, from the previous forecast of 0.6 percent by the British Chambers of Commerce. However, for the year 2013, the organization made up of over 100,000 businesses from all over the country, has lifted the economic growth forecast from 1.8 percent to 1.9 percent. According to the Quarterly Economic Forecast by the BCC, this will assume that the UK has risen from the recession by the year 2013. The number of jobless individuals will go up from 2.625 million to 2.9 million, which is 8.2 percent of the workforce of the country, but only in the year 2013, particularly in the third quarter of the year. This will be brought about by the spending cuts that most businesses and companies will impose.