A stark picture of the prospects for the UK economy has been painted by an independent group of economists.
The Centre for Economics and Business Research (CEBR) predicts the economy will shrink by 2.9% in 2009 - more than at any time since the 1940s.
It expects consumer spending to decline and investment in business to slump.
The forecasters say exporters will be helped by the slump in the pound's value, but even their prospects will be held back by a global slowdown.
more ...
http://news.bbc.co.uk/1/hi/business/7796960.stm
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Saturday 27 December 2008
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