Latest recession surveys point to bleak outlook - papers

The British economy could continue on its downward path for another year and take a further two years to return to its pre-recession level, the National Institute of Economic and Social Research warned today. Along with new surveys showing continued falls in consumer confidence and a grim outlook for jobs, the NIESR report further underlined the bleak outlook for Britain. The FTSE 100 index in London dropped about 30 points to 3898.90 in early trading and investors were also braced for a poor round of US company results. Across Asia, stockmarkets were down, with Tokyo's Nikkei losing 2....