Category: UK Economy

Swine Flu Could Devastate British Economy

July 20, 2009 by srrpenna

Just as the British economy was slowly beginning to recover, a new foe has emerged. Swine flu could cause Britain's economy to shrink by a gigantic 7.5% this year and dash hopes of recovery next year.

"If the worst-case scenarios of the threat of swine flu are fully realized, gross domestic product could fall by as much as an additional 3% this year and another 1.7% in 2010,” said Peter Spencer, chief economic advisor to the Ernst & Young Item Club, a London-based think tank.