UK warned of double-dip recession
April 21st 16:39 Cost Management
Businesses in the UK could be encouraged to reduce their operating costs through effective facilities management, following one expert's prediction of a double-dip recession.
Dr Tom Kirchmaier, a visiting fellow of the Financial Markets Group at the London School of Economics and Political Science, said the economy could yet contract despite reports to the contrary.
A recently-released study from Ernst & Young estimated that the economy will grow by 2.7 per cent in the next year and by 3.4 per cent in 2012 as the result of a strong level of exports.
However, Dr Kirchmaier said that while an increase in exports is desirable, it is not that easy to achieve.
"The US came out a while ago also saying they would have to start doubling their exports by 2015, so other markets will try to export their way out and there will be huge competition in the export market in the future," he explained.
"The other thing you have to consider is what the prime products are that the UK produces and trades."
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