U.K. May Slip Closer to Recession as King Sees Scope for QE
This article is for subscribers only.
Britain’s economy may slip closer to a double-dip recession today as Europe’s debt crisis and a slump in consumer spending undermine exports and domestic demand, according to economists.
Gross domestic product fell 0.1 percent in the fourth quarter, the first decline in a year, according to the median of 33 forecasts in a Bloomberg News survey. Ernst & Young’s ITEM Club forecasts another decline in the current quarter, which is the technical definition of a recession. It would be the first double dip in almost four decades.