Mortgage News
UK double dip fears rise
The chances of Britain dropping back into recession this year have doubled to one-in-five, a leading economic forecaster has warned amid mounting fears the recovery is slowing.
The Centre for Economics & Business Research (CEBR) has estimated growth this year will fall from the official forecast of 2.1%. to just 1.1%, writes the Telegraph.
“The chances of a double dip for the UK economy have risen from 10% in October to 20% now,” the CEBR said.
The coalition was dealt another blow by the National Institute for Economic & Social Research which estimated growth last year was just 1.6%, against the official 1.8% forecast.
It added the economy is not expected to recover to levels seen before the recession until 2012.
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