Is It All Doom and Gloom for the UK Economy?

There's been much talk this week, and more depressing news that another recession is potentially looming in Europe and the US, and with borrowing figures the highest that they've ever been, and with Nick Clegg delivering in his speech today at the Liberal Democrats conference that is a "long hard road ahead". The picture hasn't been helped with the International Monetary Fund warning that Europe and the US could slip back into recession unless economic problems aren't combated, with the IMF slashing its growth forecasts for Great Britain, people are left wondering if there's any hope. Interest Rates are at a record low of 0.5%, the only saviour will come next month if the Bank of England decides to pump more money into the UK economy. Unfortunately, for those of us that thought things were looking up for the UK, it looks like the worst could still be yet to come.

News about the UK's growth forecast

I have to say the news I hear on the UK economy has seemed quite bleak in recent months, but when the forecast for this year was indicating that the overall picture for the UK as looking up with a tiny percentage of growth I did have some hope. However, now the OECD has reduced the growth forecast by 0.2 and expects the UK economy to grow by 1.5% in 2011. Still better than nothing eh?

For the full article read here: UK growth forecast reduced