To this I can only say, “huh”?
LONDON (Reuters) – British business minister Vince Cable said Britain could fall back into recession for a third time since the 2008 financial crisis but expected the economy to stagger on with minimal growth.
That’s fascinating. Can someone point to me when, exactly, they’ve come out of the second dip? Did they ever really get out of the first dip?
“There is a real worry about (that), a real risk of that,” he said. Asked if the economy was heading for a ‘triple-dip recession’, after falling twice into negative growth since the financial crisis, he said: “There is certainly a risk.”
“I always try not to get drawn into forecasting arguments (but) there is clearly a risk. The most likely outcome is that we continue to bump along the bottom,” he added in an Observer newspaper interview.
Conservative finance Minister George Osborne announced new official forecasts on Wednesday that slashed expected growth to 1.2 percent in 2013 and 2 percent in 2014, with the economy seen shrinking this year by 0.1 percent.
Oh, I see, Cable isn’t getting into a forecasting argument, he’s simply insisting the forecasts are correct.