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March 25, 2008



The Chancellor's growth rate forecast is over a quarter higher than the CBI's for 2009. When growth is dribbling along at the 2% mark, that could be the difference between "dull" and painful in places.


If we are entering the Greater Depression, both will look like Charlies. Presumably it is such a prospect that is animating the Fed.


Except for the worsening sub-prime and the political moves due in early 2009.

Glenn (aka angry economist)

ah 0.2% difference... its nowt much really.

economic forecasts - gotta love 'em. Its a projection, ain't it and the margin of error is pretty much unkown, but of the order of 1% usually.

in those years when we will be waiting to see who is right, data revisions and new information will lead to a recalculation of estimates etc etc.

And the focus is all on headline GDP. What really matters is how different parts of the economy and of the country perform.

I find that the CBI usually talks pish about a lot of things. Just what percentage of employers does it represent? not many.

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