UK growth forecast downgraded by Coface
Credit insurer Coface has increased its forecast for world growth to 3% but reduced its 2010 forecast for the UK to 1.1%.
The slight revision, from 1.2%, comes at the same time as the average level of risk presented by UK companies on their commercial transactions being maintained at A3.
The insurer also reviewed the Euro Zone's growth forecast downward to 0.8% while it expects industrialised countries as a whole to post 1.6% growth in 2010.
Fourth quarter growth in 2009 in the Euro Zone was defined as "disappointing" whereas the performance of the American economy in the same period was described as "good" leading
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