UK faces bleak year in 2012, FT says

Date: Tuesday 03 Jan 2012

Britain faces a bleak year that will rival 2008 for economic weakness as the continuing Eurozone crisis hits output, according to a large majority of economists polled by the Financial Times.

Almost all of those expressing an opinion said the UK outlook would be much worse if the Euro collapsed.

In an extensive survey of 83 economists, three times more said the UK outlook would deteriorate than expected it to improve in 2012. A sizeable number say the economy will shrink.

Sir Alan Budd, founding chairman of the Office for Budget Responsibility –the Treasury´s independent forecaster – said 2012 was likely to offer “the choice between extended misery if the Euro survives and catastrophe if it does not.”

The survey results are available at: www.ft.com/ukeconomy.

AB

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