Cebr: UK set for sluggish growth

The gloomy forecast is the key conclusion of the latest United Kingdom prospects report, in which the authors have revised down their 2009 forecast, due to the rise in inflation, the squeeze in real disposable incomes and the diminished prospect of interest rate cuts. Growth will be constrained to a three year low this year, as the impact of the credit crunch hits the real economy, while 2009 is set to be the worst year for the economy since 1992. The cebr noted weakness across nearly all sectors of the UK economy and, in particular, the housing market. It added that rising inflation...