GDP: Analysts warn UK economy could slow sharply


	GDP: Analysts warn UK economy could slow sharply

JICWyllie

5-26-2008 2:03 PM

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economy, i-growth, i-decrease, i-record, i-forecast

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/dc5106c0-3ba1-472a-bbaa-ebb5afb7da7c/21CE4DDF-9AB6-46CD-8595-1A00BEB4BFD4/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.guardian.co.uk/business/2008/may/23/economicgrowth.economics" href="http://www.guardian.co.uk/business/2008/may/23/economicgrowth.economics" style="font-size: 11px;">www.guardian.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/may/23/economicgrowth.economics">Jonathan Loynes, chief European economist at Capital Economics, said the breakdown of GDP supported the view that growth will slow significantly further this year.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/may/23/economicgrowth.economics"><P>"The 0.4% gain in overall output was driven by strong increases in consumer spending and government spending, both of which are likely to be far weaker in coming quarters as consumers are hit by falling house prices and high inflation and public spending is squeezed," Loynes said.</P><P>"Overall, we continue to expect a deeper and more prolonged downturn in the economy than the Bank of England monetary policy committee currently expects, eventually leading to considerably lower levels of interest rates," he added.</P><P>Dominic White, an economist at ABN Amro, said the weak GDP picture meant that the odds of a negative second quarter are "fairly high".</P><P>"Firms have cut back on investment sharply, and that's only natural when you have the biggest financial shock since the Great Depression,"</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/21CE4DDF-9AB6-46CD-8595-1A00BEB4BFD4/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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