Britain 'Should Be Able to Skate Round the Recession' ; Economics

Summary

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Economic momentum should enable the Government "to skate round" the threat of a recession and the situation could only be made worse if interest rates do not come down further, a leading economist said in Birmingham yesterday, George Magnus, senior economic adviser of the UBS investment bank, told business leaders and investors at the Hyatt Regency Hotel, that the UK had a number of strengths in its economy.

"The UK is clearly coming from a position where we have a lot of momentum in terms of professional expertise, production and labour markets and these areas add to demand. The pound is dropping and that helps as well," he said.

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Britain 'Should Be Able to Skate Round the Recession' ; Economics

Mr Magnus, who appears to be more upbeat than many economists in his forecasts, said the economy would be relatively resilient if its growth was sustained at th...

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