Economic Indicators, December 2011

Latest forecasts from the OBR expected the economy to grow more slowly over the next few years than previously predicted. The OBR also forecast government borrowing over the five years from 2011/12 to 2015/16 to be £111 billion higher than forecast in March. Meanwhile, a weakening labour market has seen the number of people unemployed rise to its highest level in 17 years, while employment fell by almost 200,000 in July-September over the previous quarter.