BCC slashes UK growth forecast

The British Chambers of Commerce (BCC) has slashed its forecast for UK GDP growth this year for the third time as the economy continues to wane.

The BCC said it now expects the economy to expand just 1.1% in 2011, compared with its 1.3% estimate in June. It's outlook has nearly halved since the start of the year when it predicted growth of 1.9%. The BCC said the government's aim to rebalance the economy towards exports and business investment was not happening fast enough, and called upon the Bank of England to consider a further round of quantitative easing. BCC director general David Frost said the government had to do more to help companies grow while at the same time continuing measures to curtail the UK's budget deficit...