BoE offers gloomy UK growth outlook

london-bank-of-england-with-lamp-post-in-foreground

Sluggish growth and continued uncertainty over the state of the global economy led the Bank of England to once again revise its 2011 growth projection downward on Wednesday.

At the August Inflation Report conference in London, Bank of England governor Mervyn King painted a gloomy picture of the UK economy, saying the continued squeeze on households' real incomes was likely to lead to further "sluggish" growth in the near term.

Data from the Office of National Statistics estimates gross domestic

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