If 0.2% expansion were achieved in the final three months of this year, the CBI calculates that UK gross domestic product in 2012 would be unchanged from that in 2011.

Data from the Office for National Statistics showed the UK economy grew by 1% quarter-on-quarter in the three months to September. This rise followed three consecutive quarters of contraction.

Before the third-quarter figures were published, the CBI had been projecting the UK would contract by 0.3% this year.

The CBI now forecasts that UK unemployment will peak in the second quarter of next year at about 2.54 million on the International Labour Organisation measure.

However, it emphasised that, while it expected such a rise in unemployment in the first half of next year, this peak was lower than its previous projection of 2.7 million.

It said: "Though the recent resilience of the labour market continues to prove somewhat puzzling, given the weakness of wider economic conditions, we expect that a modest rise in unemployment is more likely than not, given the lagging nature of labour market conditions, and the relatively weak growth out-turns during the first half of 2012."

The CBI raised its forecast of UK growth in 2013 marginally, from 1.2% in its previous set of forecasts in August to 1.4%.

However, it warned the "risks around the outlook remain on the downside".

It cited the continuation of the eurozone crisis, and concern about the impact of inflation.