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.