UK Economic Growth To Slow says OECD

The UK will grow more slowly than predicted, according to the Organisation for Economic Co-operation and Development (OECD). Growth of other G7 country’s economies would be much higher than the UK’s. The survey points out that the US would expand by 3.4%, France 2.8% and Germany 2.3% while the UK would only manage 1%.
The only other major economy to suffer from lower expansion rates would be Japan, which was being affected by the recent devistation caused by the earthquake and tsunami.

In the UK’s favour, the OECD pointed out that the government’s ambitious series of cutbacks were necessary to acheive a sustainable recovery.
In all the G7 bloc countries, the main problems were likely to be unemployment and inflation.
Instability in the Middle East could also act as a drag on economic activity in the short term.