UK forecaster: Britain sliding back into recession
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Pastor Dale Morgan
Aug 16, 2010, 8:58:23 AM8/16/10
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Perilous Times
UK forecaster: Britain sliding back into recession
The Associated Press
Monday, August 16, 2010; 5:04 AM
LONDON -- The head of Britain's new Treasury watchdog says he is sure the country will slide back into recession.
Alan Budd, the outgoing chief of the Office for Budget Responsibility, says Monday his organization thinks a so-called double-dip recession is a possibility.
Britain's new government set up Budd's office to provide independent economic forecasts. Budd was appointed as interim chief and will be replaced later this year.
Budd told the BBC "it is a possibility" Britain could fall back into recession, but that the most "likely outcome is that the economy will continue to grow."
Britain only emerged from recession in the final quarter of last year.
UK forecaster: Britain sliding back into recession
The Associated Press
Monday, August 16, 2010; 5:04 AM
LONDON -- The head of Britain's new Treasury watchdog says he is sure the country will slide back into recession.
Alan Budd, the outgoing chief of the Office for Budget Responsibility, says Monday his organization thinks a so-called double-dip recession is a possibility.
Britain's new government set up Budd's office to provide independent economic forecasts. Budd was appointed as interim chief and will be replaced later this year.
Budd told the BBC "it is a possibility" Britain could fall back into recession, but that the most "likely outcome is that the economy will continue to grow."
Britain only emerged from recession in the final quarter of last year.
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