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OBR to lift UK growth forecast

OBR to lift UK growth forecast

Forecasts for the UK economy are poised to be revised up to take account of the more positive data that has emerged in recent weeks.

The Office for Budget Responsibility (OBR) is set to increase its growth forecast for Britain when chancellor George Osborne (pictured) delivers his Budget on Wednesday.

The upcoming forecasts were finalised at the beginning of this month and are expected to see the OBR raise its growth prediction from 0.7% for 2012 to 0.8%, according to the Financial Times.

Such a revision would see the OBR's outlook for the UK fall in line with estimates issued by private forecasters.  The OBR is also expected to put to one side its fears about the UK facing a technical recession.

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