London, UK -- (SBWIRE) -- 06/05/2013 -- Clients of Intelligent Data Services UK were delighted when they learned that the Confederation of British Industry revealed that the economy is finally moving from stagnation to growth. The latest report from the forecast business group showed that the GDP should expand by at least one percent this year, and by two percent the following year. These findings were echoed by the Office for National Statistics – a representative from this organisation stated that in the last quarter, the economy has grown by 0.3 percent – this means that the UK has managed to sidestep a triple dip recession.
The director of economics at the CBI, Stephen Gifford, explained that based on the research they had carried out, they are now confident that this level of growth will continue over the coming year. Intelligent Data Services B2B customers also intend to read the quarterly inflation and growth forecasts from the Bank of England, which are due to be released later this week. Other reports, such as the one drawn up by Lloyds TSB, indicate that the CBI’s findings are accurate, as the bank’s research shows that business activity is the strongest it has been in over eight months.
Intelligent Data Services Twitter followers were pleased to learn that whilst the CBI believes that unemployment figures will rise slightly towards the middle of 2013, the numbers will drop once again by the end of the year. Likewise, the CBI is expecting employment numbers to fall and then increase again. However, Consumer Price Index inflation is set to go up by a minimum of three percent during the month of June. This inflation, coupled with the lack of wage increases, will continue to make it difficult for people to manage household finances.
Despite this, the CBI says that, due to the rise in the tax free personal allowance, household consumption is likely to go up in the next twelve months, with housing savings rates dropping from just over seven percent, to a little more than five percent. Intelligent Data Services Facebook fans also read that the CBI is expecting the Eurozone to find its way out of the recession by the end of 2013. This is good news for the UK economy, as the Eurozone accounts for fifty percent of its trade. Last but not least, it has been predicted that fixed capital investments will rebound by at least five percent.
A report from the Confederation of British Industry reveals that the UK economy is starting to show signs of recovery. Economic growth has increased in the first quarter of 2013, and this trend is expected to continue for at least another year.