The National Institute of Economic and Social Research estimates that the economy contracted 1% in the three months to September, and now expects a fall of more than 1% in the final quarter of the year (i.e. October to December). This compares with a 0.5% contraction in the the third quarter and the pre-Budget Report's forecast of around three quarters of a percent contraction in the fourth quarter, announced only a couple of weeks ago. And the NIESR forecast of an above-1% contraction is far from the gloomiest I've heard.
Better get that Election called soon, Gordon. It's only going to get worse for you from here.
