Cycle of recovery - Optimistic prediction

HOW refreshing it is to have even one positive forecast to consider.

Yesterday’s upward revision of its gross domestic product (GDP) forecast for 2011 by the Central Bank is very welcome, even if it might be foolish to bet the farm on the prediction coming to pass.

In its July quarterly bulletin the Central Bank said GDP would increase by 0.8% this year but it felt emboldened to change that figure to 1% yesterday.