Britain to be hit by recession again in 2012
December 27th, 2011 - 6:00 pm ICT by IANSLondon, Dec 27 (IANS) The British economy was facing a “bleak” new year, with a real risk of recession returning during 2012, a think tank has warned.
The only good news for consumers was an expected fall in inflation that will ease the squeeze on spending power in households which remain in work, says the report by the Institute for Public Policy Research.
Many European economies were already back in recession, Sky News said.
“As we enter 2012, it seems the word that best describes the outlook for the British economy is ‘bleak’,” the institute’s chief economist Tony Dolphin said.
“… country after country is being forced to adopt extreme austerity measures that will result in large falls in output,” he said.
“Going into 2012, the risk is that talk of austerity at home and crisis in Europe will dampen spirits to such an extent that the economy drifts into recession.”
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- Indian economy to grow 7.7 percent in 2012: UN - Jan 17, 2012
- Britain's house prices fall - Mar 06, 2012
- British unemployment to rise to nearly 3 million - Dec 29, 2011
- India's growth projection lowered as global recovery stalls - Jan 24, 2012
- 'Bank of England may have to print more money' - Oct 10, 2011
- China to see waning steel demand - Mar 02, 2012
- Italy's GDP to drop in 2012 - May 23, 2012
- IMF advises caution on policy easing to India - Mar 02, 2012
- China's GDP to grow by 8.8 percent in 2012 - Jan 03, 2012
- Guard against crisis contagion, IMF tells Latin America - Feb 03, 2012
Tags: austerity measures, british economy, chief economist, consumers, dolphin, drifts, european economies, extent, extreme austerity, households, inflation, new year, public policy research, recession, risk, sky news, spending power, spirits, squeeze, think tank