Credit Crisis: Now A 'Strong Chance' UK Will Enter A Recession

By Harry Wallop, Consumer Affairs Correspondent There is now a "strong chance" the UK will enter a recession next year, leading economists have warned after some of Britain's biggest companies disclosed that they were suffering badly from the impact of the credit crisis. Marks & Spencer, the bellwether of the UK High Street In the clearest sign yet that the economic turmoil in the City shares tumble as retailer issues profits alert Is M&S the author of its own problems? Is the UK economy headed for a recession? has spread to the wider economy, leading retailers and house builders admitted they were in "the most rapid and severe downturn" for two decades. Marks & Spencer, the bellwether of the High Street, saw its shares suffer their worst one day fall in 20 years after disclosing that sales had fallen more than 5 per cent in... [read full story]