Economic recovery in UK ‘on hold’ ยป financialsurfer.com

Economic recovery in UK ‘on hold’

July 19th, 2009 | Category: Economy
The UK economy is set to shrink by 4.5% in this year, the biggest fall in a single year since 1945, according to an influential think-tank. The downbeat forecast is more pessimistic than the consensus view, and considerably worse than the 3.5% fall predicted by the government. The Ernst & Young Item Club also warned that hopes of economic recovery are “running ahead of reality”. It does, however, predict a return to modest growth of 0.5% in 2010. ‘Chance …

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