Britain stares into the abyss again as household confidence plummets
PM will seek to reassure the CBI conference today as economists predict double dip and house-price fall.
Monday, 25 October 2010
Britain faces a relapse into recession, official figures are expected to suggest this week, as the latest survey of household confidence also points to a property market poised to “lurch downwards”.
The Office for National Statistics is due to release data on growth for the third quarter on Tuesday – and it will show a sharp slowdown in the pace of recovery seen earlier in the year.
Some economists believe that Britain could suffer the much-feared “double dip” next year and, even if the economy doesn’t shrink again, any path back to economic normality seems certain to be protracted and painfully slow.