BBC NEWS | Business | UK in recession as economy slides
I can easily see the UK contracting by around 10% in 2009 as a total, and that the total of their depression will be that the economy can contract by around 1/3rd.Gross domestic product fell by 1.5% in the last three months of 2008 after a 0.6% drop in the previous quarter.
This I do not see for either the US or the rest or any country in Europe. The US can contract perhaps 5%, and Europe around 2-3% in 2009. All in all, I would be surprised if the US economy shrinked by more than 15% in total before the economic decline is over. I would be surprised if Europe as a total contracted more than 7.5%..
My predictions for 2009..
UK economy shrinking by between 5-10%, probably around 7.5%.
US economy shrinking by between 3-6%, probably around 4%.
EU-27 economies shrinking by between 2-5%, probably around 2.5%
Eurozone-16 economies shrinking by around 2-4%, probably around 2.5%.