Recession will leave UK economy scarred - papers

It is fast emerging that December was one of the worst months ever recorded for the British economy, with the British Retail Consortium reporting an unprecedented fall in retail sales, while business output and housing market activity dipped to new troughs. The British Chambers of Commerce reports a "frightening deterioration" towards the end of the year, in its quarterly economic survey, published today. It said that the manufacturing and service sectors recorded their worst output since comparable records began two decades ago. "The sheer scale of this comes as a surprise to many of u...