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Response to Tansy_Gold (Original post)

Wed Dec 5, 2012, 08:48 AM

35. UK economy 'to contract this year'

http://www.bbc.co.uk/news/business-20609683



The UK economy will contract by 0.1% this year, according to the Office for Budget Responsibility (OBR), the independent body that makes economic forecasts for the government.

It is a big revision from the time of the Budget in March, when it said that the economy would grow 0.8% this year.

Chancellor George Osborne announced the changes to the forecast in his Autumn Statement.

Growth forecasts for the next five years were also cut.

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