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"Niesr analyses the odds of the UK recession"(2011-11-03)
National Institute for Economic and Social Research estimate the possibility of recession in the UK by 50%. If the European policymakers donít find the solution of the regionís debt crisis, the odds of British economic contraction will equal to 70%.
The economists lowered their economic growth forecasts for 2012 from August estimate of 2% to 0.9%. In their view, UK GDP growth will keep stagnating in the first half of the next year as it was this year going through the slowest recovery since the end of the First World War.
Niesr has also revised down its forecast for the global economic growth from 4.5% to 4% in 2011 and 2012 noting that there are downside risks to this projection from the crisis in Greece.
Chart. Daily GBP/USD
Comment here http://www.fbs.com/analytics/news_markets/view/9014
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