A leading forecaster has warned that the official growth figures set to be released on Friday are expected to show that the UK is hurtling towards a triple dip recession.
It has been predicted that the British economy shrank in the final quarter of last year and will fall again in the three months from January to March.
?We are sliding towards a triple dip recession in my view,? said Peter Spencer, the chief economic adviser to the influential Ernst & Young Item Club that uses the Treasury?s own models in its forecasting.
?The snow is not helping. When the economy is bouncing along the bottom anyway, a bout of bad weather can easily tip it into negative territory,? he added.
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