BCC said the UK economy will probably avoid recession. BCI says the same now. | Forexlive

On Friday the British Chambers of Commerce (BCC), a business lobby group, said the UK economy would probably avoid a recession.

• “We are on course to only narrowly avoid a recession,”
• “With anemic growth rates predicted into the future, there is a real danger of slipping back into recession territory at any point.”
• forecast gross domestic product will grow 0.3% this year instead of shrinking by the same amount

On Monday morning UK time, a report just issued, the UK’s Confederation of British Industry said much the same. forecasting GDP:

• +0.4% this year (prior -0.4%)
• +1.8% next year (prior +1.6%)

Citing as reasoning for the upgrade::

• Falling energy prices
• reopening of China’s economy
• easing supply chain disruptions