BRITAIN FACES THE THREAT OF A TRIPLE DIP RECESSION — DESPITE ANOTHER 49,000 FALL IN UNEMPLOYMENT
The Bank of England yesterday warned growth may not get back to pre-crisis levels until mid 2015.
Economic output, or GDP, may rise by just ‘ONE PER CENT” next year.
Governor Sir Mervyn King forecast growth could fall between October and December. If output fell between January and March Britain would be in the “THIRD” recession of the credit crisis.