FTSE 100 flat as CBI claims UK will dodge triple-dip

<p>The FTSE 100 has failed to make headway, despite claims the UK will avoid a triple-dip recession.</p>

The FTSE 100 has failed to gain ground in this morning's (February 13th) trading session, despite one influential body's claims the country will dodge the dreaded triple-dip recession that has been plaguing investor fears since the start of the new year.

Business lobby group the Confederation of British Industry (CBI) stated that the UK economy will grow by 0.3 per cent in the first quarter of the year, escaping the trend for contraction that was recorded in the final three months of 2012.

However, the CBI was realistic about how the nation will weather the ongoing financial storm in 2013 and revised down its growth predictions for the year to one per cent from 1.4 per cent.

Director-general John Cridland told the BBC's Today programme: "At the moment the economy's pretty flattish but I think there's just signs we might be edging upwards."

At 09:45 GMT, the FTSE 100 retreated by 0.2 per cent to an index value of 6323.4 points.

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