UK at “serious risk of a double-dip recession”, says economic survey
Britain, which is forecast to have exited recession in the final quarter of last year, is at “serious risk of a double-dip recession” of renewed negative growth, reported the Associated Press.
Quoting the British Chamber of Commerce’s fourth quarter economic survey, AP said: “Economic data "support the view that the economy is on the brink of leaving recession, but they do not provide conclusive evidence of any robust and significant growth" in the last three months of 2009.”
Official data due at the end of January is expected to reveal the country exited the recession.
"Unless the private sector is given the freedom to create jobs and wealth, the UK's economic recovery will be slower than it should be, and we will face the serious risk of a double-dip recession," said the BCC survey.
The survey findings were “not as impressive as hoped”, said the BCC, although it did note "strong improvements in employment and exports within the manufacturing sector".
The economy is expected to grow 1.0-1.5 % in 2010, according to Chancellor of the Exchequer Alistair Darling.