UK double-dip recession: the industry verdict

Azad Zangana, European economist at Schroders "The double dip in recession comes as no surprise to us. We have been forecasting another recession since last November when the eurozone crisis intensified. Indeed, we are forecasting a further falls in GDP for the second quarter which will be caused by the extra bank holiday to celebrate the Diamond Jubilee. "The economy slipping back into recession will come as a blow for the Chancellor. The OBR will now have to revise down its forecast, which will worsen the fiscal numbers further. "It is too early to call for a reversal of governme...