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Friday, November 27, 2009

Recession Worse Than Thought

Chancellor Alistair Darling will admit in the pre-Budget report that the economy performed worse in 2009 than he first predicted.

Quell surprise!

The prediction for economic shrinkage was 3.5%, the reality was in fact 4.75%.

Given this failure in forecasting, why should anyone believe the Treasury when it says that growth in 2010 will be between 1-1.5%?

1 comment:

  1. Anonymous3:04 PM

    And this despite the fact that Prudence has "saved the world"?