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Economy to shrink in 2012 as quick austerity hurts - NIESR
Aug 3rd, 2012
LONDON (Reuters) - Britain's economy will shrink this year and any meaningful recovery will remain elusive until 2014 as the euro zone debt crisis and the government's spending cuts weigh heavily on the country's prospects, a leading think-tank said on Friday. The National Institute for Economic and Social Research (NIESR) said the country's output could have been 239 billion pounds higher in total between 2011 and 2021, had deficit reduction been postponed by three years. NIESR's analysis together with its forecast of a decline in gross domestic product by 0. ... (Source: Reuters) -
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