Wednesday 8th February 2012 10.32am
Post your Events CBI Comments On Upward Revision Of GDP Figure
The CBI commented on the upward revision of the GDP figure for the last quarter of 2009 to +0.3% economic growth.
Ian McCafferty, CBI Chief Economic Adviser, said:
“Today’s numbers show a slightly stronger exit from recession at the end of 2009, when we had the VAT cut and car scrappage scheme stimulus measures to help lift production and spending. The upward revision to the growth figure for the fourth quarter of last year is encouraging in light of Thursday’s weak business investment figures.
“Nevertheless, the stimulus measures will have brought spending forward and dampened economic activity at the start of this year. Add to that the unusually poor weather that we have had in the past two months, and the numbers for the first quarter of this year could still turn out to be quite weak.”
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