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Bank loan: Double-dip recession possible, says expert

There is still a possibility that the UK could face a double dip recession, according to an expert.

Research published by business advisors BDO LLP revealed that business confidence has dropped to 93.1 in August from 95.5 in July.

It is the first time the index has dropped below the crucial 95 mark since July 2009, suggesting that the economy may shrink in the last quarter of 2010 and lead to another recession.

Michael Baxter, editor of Investment and Business News, claimed the short term economic prospects are "not good" due to the hike in VAT, job losses and cuts to public spending.

He said: "There is a possibility that we'll have another recession. I don't think that if we did have another recession, it would be particularly severe because output is already below the peak output that we had at the beginning of 2008.

"When you haven't even recovered to the previous peak, it is quite unusual to then have another recession."

Posted by John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance ADNFCR-2776-ID-800066850-ADNFCR



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