International Monetary Fund lowers UK growth forecast
The International Monetary Fund has cut its forecast for the UK economy, saying it now thinks it will shrink by 0.4% this year.
It is the biggest downgrade of any advanced economy.
It predicts only a slow improvement in the picture next year with growth of 1.1% expected.
The IMF is also gloomy about the prospects for the world economy saying the global recovery is weakening and the situation could easily get worse.
Hugh Pym reports.
09 Oct 2012
- From the section Business