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UK recession 'will last longest'

The IMF warned the UK will be the only member of the G7 group of leading industrial countries that will continue to see its economy contract in 2010.

http://news.bbc.co.uk/1/hi/business/7949978.stm

Not great news but I guess not surprising either given:

The extent of the UK property boom and subsequent bust
The level of UK personal debt
Our relative reliance on the financial sector for generating wealth and taxes

Comments

  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    So what is Japans excuse for a proposed -5% in 2009 :confused: or Germany -3.2% for 2009 (previous estimate 2% Jan).
    '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 Thatcher
  • stevetodd
    stevetodd Posts: 1,016 Forumite
    JP45 wrote: »
    The IMF warned the UK will be the only member of the G7 group of leading industrial countries that will continue to see its economy contract in 2010.

    http://news.bbc.co.uk/1/hi/business/7949978.stm

    Not great news but I guess not surprising either given:

    The extent of the UK property boom and subsequent bust
    The level of UK personal debt
    Our relative reliance on the financial sector for generating wealth and taxes

    This is now the 3rd thread on this subject
This discussion has been closed.
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