The latest economic data does not make pleasant reading:
- 'Frightening' deterioration in UK economy
- Thousands of UK jobs go in bleak day for economy
- Profits warnings at seven year high
- UK 'set for worst downturn since Second World War'
- Output from UK factories hits fastest rate of decline for 28 years
- The labour market isn't working
- Worst December ever for retailers
- UK trade deficit balloons to a record
- Financial services gloom deepens
- Tesco results add to UK economic gloom
Certainly, any hopes that the recession will end in the second half of this year have all but disappeared.