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UK recession 'will last longest'

by Maira | 3 years, 2 month(s) ago

Tags: Recession, UK

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Asia-Pacific Europe Middle East South Asia UK Business Market Data Economy Companies Health Science & Environment Technology Entertainment Also in the news ----------------- Video and Audio ----------------- Have Your Say In Pictures Country Profiles Special Reports Related BBC sites * Sport * Weather * On This Day * Editors' Blog * BBC World Service Site Version * UK Version * International Version * About the versions Page last updated at 08:40 GMT, Wednesday, 18 March 2009 E-mail this to a friend Printable version UK recession 'will last longest' Closing down sale at shop in Wigan The IMF says the UK will be the only G7 economy to shrink further in 2010 The recession will last longer in the UK than in any of the world's other major economies, the International Monetary Fund (IMF) has predicted. 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. The UK fell into recession in the second half of last year after two consecutive quarters of falling output. The IMF said the UK economy will shrink 3.8% this year and 0.2% in 2010. By contrast, the G7 nations will see their economies decline 3.2% on average in 2009, before growing 0.2% next year, the IMF predicted.
Report (0) (0) | 3 years, 2 month(s) ago