The National Institute of Economic and Social Research says its likely. The Governor of the Bank of England agrees. Gordon Brown acknowleges it at Prime Minister's questions today.The UK economy is on the brink of recession.
GDP data for the third quarter of 2008 is published on Friday. It is widely believed that this will show UK output fell in the last three months. Also widely expected are revisions to the data for the second quarter which will show that the economy's output fell from April to June. That will be two successive quarters of negative economic growth and an end to the matter - recession will be official.
Brace yourself for a BBC day long special on Friday. Apparently, the decks have been cleared and the journalists dispatched.
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