Thinktank tips 50% chance of UK triple-dip recession

A leading thinktank has urged the government to take drastic steps to stimulate economic growth in the UK, as another forecast a 50/50 chance of a triple-dip recession.

In a series of predictions for the global economy in 2013, the Centre for Economics and Business Research (CEBR) said the UK will probably have negative growth in Q4 2012 and could see a weak Q1 2013 as well. “Data from the ICAEW Grant Thornton Business Confidence Monitor and FSB Small Business Index have been encouraging enough to suppose there are cautious grounds for optimism going into 2013. So we give a 50-50 chance on a triple dip,” it said. The CEBR added it expects inflation to remain above the Bank of England’s 2% target throughout 2013 as utility price rises feed through. Th...