February 17, 2009
Deeper recession for the UK
Story link: Deeper recession for the UK
The hardest part about a recession, is turning things around and getting rid of it for good.
Business and public finance has slowly become unstable and it is only a matter of time before the UK economy falls into a deeper recession if the Government do not take drastic action soon.
The rapidly deteriorating global economy and the continued difficulties UK businesses are facing in accessing credit will push the economy deeper into recession in 2009, the CBI said today (Monday 16th February, 2009).
The CBI is publishing its latest economic forecast against a worsening international backdrop. Last month the International Monetary Fund revised its forecast for world economic growth sharply downwards, and recent economic data have dashed hopes that growth in the emerging economies would soften the impact of the global downturn.