The wide range of opinion regarding both the severity and likely timescale of this recession was illustrated yesterday with comments from the BoE, BCC and IOD.
Take your pick who you run with…..
BoE Governor, Mervyn King says “The slowdown could be deeper if the authorities at home and abroad are only partially successful in improving the availability of credit and restoring business and consumer confidence”.
David Kern, chief economist at the British Chambers of Commerce said that the Bank’s forecast for a recovery by 2010 “seems unduly optimistic.”
Graham Leach, of the Institute of Directors, added that “we are well into the financial crisis but the economic crisis is only just beginning.”
