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  The CBI today commented on the International Monetary Fund’s latest World Economic Outlook report, which cuts UK growth predictions from 1.0% to 0.7% for 2013.

Stephen Gifford, CBI Director for Economics, said: “With recent data from our business surveys suggesting that growth at the beginning of this year was broadly flat, it’s not surprising that the IMF has lowered its forecast.

“Consumers are being squeezed by high inflation and low wages and business confidence remains unsettled, so the pace of growth is expected to be muted through 2013.”

 
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