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| Version 0 | Version 1 |
|---|---|
| Gloomy prediction for UK economy | Gloomy prediction for UK economy |
| (30 minutes later) | |
| A stark picture of the prospects for the UK economy has been painted by an independent group of economists. | A stark picture of the prospects for the UK economy has been painted by an independent group of economists. |
| The Centre for Economics and Business Research (CEBR) predicts the economy will shrink by 2.9% in 2009 - more than at any time since the 1940s. | |
| It expects consumer spending to decline and investment in business to slump. | It expects consumer spending to decline and investment in business to slump. |
| The forecasters say exporters will be helped by the slump in the pound's value, but even their prospects will be held back by a global slowdown. | The forecasters say exporters will be helped by the slump in the pound's value, but even their prospects will be held back by a global slowdown. |
| The CEBR's research suggests the economy will contract by its largest amount since 1946, when the country was in the grips of mass de-mobilisation after the war. | The CEBR's research suggests the economy will contract by its largest amount since 1946, when the country was in the grips of mass de-mobilisation after the war. |
| The forecasters say the economy is undergoing a painful readjustment, as consumers cut spending because of rising unemployment. | The forecasters say the economy is undergoing a painful readjustment, as consumers cut spending because of rising unemployment. |
| But the big threat, they say, is a predicted collapse in business investment of 15% because firms will struggle to get finance. | But the big threat, they say, is a predicted collapse in business investment of 15% because firms will struggle to get finance. |