THE British Chancellor, Mr Kenneth Clarke's prediction of a pick up in economic growth was undermined yesterday by a survey showing optimism about business order books at a three year low. Firms are also anticipating a drop in profits and job losses, the quarterly survey by Dun & Bradstreet, the business information company, showed.

"The deterioration in optimism for new orders bodes ill for the Chancellor's hopes of GDP growth reaching 2.5 per cent in 1996," said senior D&B analyst, Mr Philip Mellor, referring to Mr Clarke's revised economic forecast, published last week.