IMF: UK Recession To Be Longest In World

The recession will last longer in the UK than elsewhere, dragging into 2010 as other major economies recover, according to the latest predictions. The IMF forecasts the British economy will keep shrinking by another 0.2% well into next year, while other nations begin to enjoy renewed growth. The IMF suggests the global economy will shrink by 0.6% in 2009, compared to an alarming 3.8% in the UK.

That would be the sharpest contraction in the UK economy since 1944 and much worse than the 2.8% the IMF forecast in January.