OECD – UK you’ll miss start of upturn
A new badge of honour for the UK. The global economy may recover earlier than first thought but Britain’s economy will lag other developed nations in emerging from recession, according to the Organisation for Economic Co-operation and Development. The UK will trail the US, Japan, Germany and France. The OECD said that a number of economies in the G7 group of developed nations would perform better during the whole of 2009 than it predicted in June. Britain was a glaring exception …
A new badge of honour for the UK.
The global economy may recover earlier than first thought but Britain’s economy will lag other developed nations in emerging from recession, according to the Organisation for Economic Co-operation and Development. The UK will trail the US, Japan, Germany and France.
The OECD said that a number of economies in the G7 group of developed nations would perform better during the whole of 2009 than it predicted in June. Britain was a glaring exception and is predicted to miss the start of the upturn.
It said the UK economy would shrink by 4.7% this year, compared with its earlier forecast of a 4.3% contraction. That is also worse than the 3.5% decline the UK Treasury has predicted.
At least we have a temperate climate.
