LONDON (AP) -- The recovery of the British economy will be slow and won't start until next year, the Confederation of British Industry said Monday.
The industry group said it believed the recession was near to hitting bottom but it expected no rebound in the second half of the year. The CBI predicted growth of no more than 0.3 percent in the first half of next year.
The CBI report contrasts with claims last week by the National Institute of Economic and Social Research that the economy had begun to grow again in April and May.
Richard Lambert, the CBI's director, said he believed that some commentators had been too quick to seize on signs of so-called "green shoots" of recovery, and that it will take time to know whether those shoots are well-rooted.