A letter to the Editor of the Times which was published on 30th December 2011.

With economic forecasting having rather less predictive power than tips for the 3.30 at Newmarket, one must admire the confidence with which the Centre for Economics and Business Research makes its selections for the league table of major economies in 2020, eight years away (report, Dec. 26th).  Russia and India are advanced to 4th and 5th places in the world, which would require an average annual rate of growth of almost 12 per cent, a figure not achieved even by China during a period – now ending – when the West has displayed an almost inexhaustible appetite for its goods.

Brazil is shown as overtaking Britain for 2011 although the GDP figures for Britain are not in, and official figures for Brazil are usually two to three years in arrears, even if one could rely on their being collected on the same basis to three significant figures as displayed in the Centre’s league table.

Perhaps the CEBR should try horse racing.