UK in recession says Item Club economic forecaster
The UK may have already slipped back into recession, economic forecaster the Item Club has warned.
The think tank said gross domestic product shrank in the final quarter of last year and would contract again in the current three-month period.
It said that even if the eurozone could resolve its problems the UK economy would grow by just 0.2% this year.
Speaking to the BBC, a senior economic advisor for the Item Club, Andrew Goodwin, said that confidence had been heavily damaged by the ongoing turmoil surrounding the single currency.
16 Jan 2012
- From the section Business