¥ After contracting by 4.3 per cent this year the economy will grow by 1 per cent in 2010. ¥ Consumer spending will fall by 3.5 per cent in 2009 and by 1.1 per cent next year. ¥ Unemployment will peak at almost 3m or 9.3 per cent of the labour force in spring 2011. ¥ House prices...

¥ The economy will shrink by 4.3 per cent this year, and then experience a weak recovery, with GDP rising by 0.9 per cent in 2010. ¥ The unemployment rate will peak at 9.6 per cent in 2011. ¥ Consumer spending will fall by 3.7 per cent this year and a further 1.1 per cent in 2010. ¥...

Summarised from the National Institute Economic Review, number 193, July 2005. To order a the full version of this article or a subscription, please contact Sage Publications by telephone: +44 (0) 20 7324 8701, email: mailto:subscriptions@sagepub.co.uk or online at http://ner.sagepub.com. Recent...