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 UK economy set for biggest fall since 1945

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UK economy set for biggest fall since 1945 Vide
PostSubject: UK economy set for biggest fall since 1945   UK economy set for biggest fall since 1945 Icon_minitimeSat Jul 18, 2009 9:35 pm
The UK economy is forecast to shrink by 4.5 per cent in 2009 – the biggest fall in a single year since 1945. This gloomy prognosis comes from leading forecaster the Ernst & Young Item Club, the only one to use the Treasury's own forecasting model, and paints a materially tougher outlook than the consensus.

Peter Spencer, chief economic adviser to Item, said yesterday: "The economic patient has been in trauma, but thanks to the paramedics at the Treasury and the Bank of England who pumped billions of pounds worth of medicine into the economy, the patient has been stabilised for now. But it remains unclear how quick and complete recovery will be, and there is still a serious chance of a relapse."

http://www.independent.co.uk/news/business/news/uk-economy-set-for-biggest-fall-since-1945-1752127.html
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