'R' word makes a comeback - papers 2 April

FIGURES ON manufacturing output and consumer spending released yesterday have raised fears of another recession hitting the US, UK and Europe, The Times says today. The fear is that with economies already doing poorly, the cost of war in Iraq will tip them over the edge, or at the very least make balancing government books extremely difficult. Yesterday saw the worst set of retail sales figures for more than a decade as shoppers stayed away in droves during March, coupled with another steep drop in UK manufacturing as companies delayed putting out orders because of uncertainti...