Economists have been slashing their growth forecasts for months, to the point where they expect barely 1% growth this year. There are signs that the pace of deficit reduction has also slowed significantly. It is too early for the Office for Budget Responsibility to tear up its forecasts but the combination of weak growth and a stubbornly high deficit is not good news.
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Economists have been slashing their growth forecasts for months, to the point where they expect barely 1% growth this year. There are signs that the pace of deficit reduction has also slowed significantly. It is too early for the Office for Budget Responsibility to tear up its forecasts but the combination of weak growth and a stubbornly high deficit is not good news.
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