Gordon Brown may be forced to revise down his forecast for UK growth this year, according to a number of gloomy reports released on Monday. In his current assessment of the UK's strength, Brown says the economy will expand by between 2.5 per cent and 3.0 per cent this year.
Economists suggest that this figure, already lowered once in the pre-Budget statement last November, will probably have to come down again, perhaps as early as the Budget-proper on 9 April.
A leading indicator of economic growth published today by NTC Research revealed its twelfth consecutive drop in February, bringing the figure to its lowest position in four years.
Falling consumer confidence combined with mounting household debt were the main forces dragging the indicator down. NTC says this means total UK growth will 'weaken' throughout the year.
