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UK double dip fears rise as forecasters predict slow recovery
worldtraveller
Posts: 14,013 Forumite
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 that the recovery will be slower than hoped.
The Centre for Economics & Business Research (CEBR) has estimated that growth this year will slide back to just 1.1pc, compared with the official forecast of 2.1pc. "The chances of a double dip for the UK economy have risen from 10pc in October to 20pc now," the CEBR said.
The Coalition was dealt a second blow by the National Institute for Economic & Social Research (NIESR), which estimated that growth last year was just 1.6pc, against the official 1.8pc forecast. It added that the economy is not expected to recover to pre-recession levels until 2012.
Between them, the two economic think-tanks are predicting a far slower pace of expansion than the Treasury, potentially imperilling both the Government's deficit reduction programme and vital growth in private sector jobs.
Telegraph.co.uk
The Centre for Economics & Business Research (CEBR) has estimated that growth this year will slide back to just 1.1pc, compared with the official forecast of 2.1pc. "The chances of a double dip for the UK economy have risen from 10pc in October to 20pc now," the CEBR said.
The Coalition was dealt a second blow by the National Institute for Economic & Social Research (NIESR), which estimated that growth last year was just 1.6pc, against the official 1.8pc forecast. It added that the economy is not expected to recover to pre-recession levels until 2012.
Between them, the two economic think-tanks are predicting a far slower pace of expansion than the Treasury, potentially imperilling both the Government's deficit reduction programme and vital growth in private sector jobs.
Telegraph.co.uk
There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
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It seems the governments programme is unravelling before even the first year is out0
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If we have to go back into recession to deal with the structural deficit, its a price worth paying imo.
Not much chance of significant rate rises whilst this is happening also.0 -
A sure fire sign that we should whack IR's up to 10% at least imo *dribbles*This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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I'm sure it won't be too long now before the mass media start to tout the "S" word again, and liken the developments in the UK economy to the 1970's. For those of us that remember, it wasn't too much fun!There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0
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The Coalition was dealt a second blow by the National Institute for Economic & Social Research (NIESR), which estimated that growth last year was just 1.6pc, against the official 1.8pc forecast. It added that the economy is not expected to recover to pre-recession levels until 2012.
How is that a blow? forecasting 1.8 and reality being 1.6 is pretty good forecasting, anyone that expects forecasts to be anymore accurate than that is a moron.Faith, hope, charity, these three; but the greatest of these is charity.0 -
markharding557 wrote: »It seems the governments programme is unravelling before even the first year is out
They haven't a clue what they are doing0 -
The risk of the Tories going to the country in June to try and get a mandate is minimal, I think the labour bloggers might as well keep your powder dry and maintain a low profile for a year or two because at the moment the public are still very aware that there are no alternatives given the inherited deficit.markharding557 wrote: »It seems the governments programme is unravelling before even the first year is outThey haven't a clue what they are doingI think....0
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Can someone tell me when the first "dip" (recession) was because I seemed to have missed it.
People were spending like mad before and over Christmas despite the bad weather.
Prices in the shops are rocketing,and at the pumps but it doesn`t seem to deter people.
To miss quote Jim Callahan "recession? what recession?"0 -
Can someone tell me when the first "dip" (recession) was because I seemed to have missed it.
People were spending like mad before and over Christmas despite the bad weather.
Prices in the shops are rocketing,and at the pumps but it doesn`t seem to deter people.
To miss quote Jim Callahan "recession? what recession?"
I think you'll find they are talking about the 2008-2009 recession. And I think you are right, enough time has gone on that if there is a recession, it will be a new one and not a double dip.
As for going to the polls... a coalition government can fall apart at any time.“The ideas of debtor and creditor as to what constitutes a good time never coincide.”
― P.G. Wodehouse, Love Among the Chickens0 -
worldtraveller wrote: »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 that the recovery will be slower than hoped.
The Centre for Economics & Business Research (CEBR) has estimated that growth this year will slide back to just 1.1pc, compared with the official forecast of 2.1pc. "The chances of a double dip for the UK economy have risen from 10pc in October to 20pc now," the CEBR said.
The Coalition was dealt a second blow by the National Institute for Economic & Social Research (NIESR), which estimated that growth last year was just 1.6pc, against the official 1.8pc forecast. It added that the economy is not expected to recover to pre-recession levels until 2012.
Between them, the two economic think-tanks are predicting a far slower pace of expansion than the Treasury, potentially imperilling both the Government's deficit reduction programme and vital growth in private sector jobs.
Telegraph.co.uk
Out of interest do we know what these brainboxes were expecting growth to be in 2010 (this time last year), so we can decide if it is worth taking note?'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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