Bureau for Economic Research: The economy faces a tough road ahead

24 July 2008 | Economy | General | Bureau for Economic Research

The BER expects GDP growth to slow from the 5% plus environment to 3.2% in 2008. The call for 2008 is largely unchanged from 3.4% forecast in April. The more significant downward revision concerns 2009 where both private consumption and investment is set to be even weaker than in 2008. As a result, real GDP growth is forecast to slow further to 3% for 2009 (in April a growth recovery to 3.8% was forecast).

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