General | 13 February 2012

UK to avoid a double dip recession

The Confederation of British Industry (CBI) has predicted the UK will avoid falling back into recession, according to the BBC.

The CBI expects growth of 0.9% for 2012, and 2% in 2013, in its usual economic forecast.

The predictions are based upon evidence showing that companies are beginning to plough money back into the economy by investing in new machinery and discovering fresh export markets.

However, John Cridland Director General of the CBI has warned it could be a rocky road getting Britain back to its former glory: "Economic conditions will continue to be tough, especially in the first half of the year and the UK recovery will depend on the successful resolution of the eurozone crisis."