Economy will shrink by more than 1% - papers

It estimated that gross domestic product fell by 1% in the three months to November after a 0.8% drop in the three months to October. The body predicted the outlook for 2009 is also grim and suggests output will fall more sharply than it expected to the end of next year. NIESR's prediction follows figures released on Tuesday which show that industrial production fell at the fastest pace in six years in October - another sign that the UK slowdown is more severe than previously forecast. A spokesman for the body said the measures take in last month's Budget may not be enough to stave off la...