An economic advisor has told the Reuters news agency that the recent bad weather could tip the UK back into recession.
Peter Spencer, chief economic advisor to the Ernst and Young Item Club, said:
– Peter Spencer, chief economic advisor to the Ernst and Young Item Club
Assuming the fourth quarter is as substantially negative as we now fear, we will almost certainly be heading back into recession.
When the economy is bouncing along the bottom anyway, a bout of bad weather can easily tip it into negative territory.