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GDP set to see 'small growth' in 2nd quarter

Published: Wednesday, 11 May 2011   Category: All Graduate job news

The second quarter of 2011 is set to see a slight growth in gross domestic product (GDP), it has been claimed.

Andrew Goodwin, senior economic advisor to the Ernst & Young ITEM Club, said that the royal wedding might have given the economy enough of a boost from tourists that a "small positive growth figure" is expected in Q2.

The confidence conferred from a GDP boost may lead to more companies advertising graduate vacancies.

However, Mr Godwin did warn that the year as a whole is likely to be slow given the extent to which the household sector is being squeezed and the fact that the government spending cuts are only now beginning in earnest.

According to the CBI's latest economic forecast, the economy is expected to make headway despite a squeeze on household income and spending cuts.

Mr Goodwin said: "We're expecting GDP growth of around 1.8 per cent which would represent another below par outturn." 

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