UK economy: Merry-ish Christmas

The UK is in danger of talking into a state of complete despair. Judging by some of the more excitable commentary, the UK is on the brink of an early Nineties-style recession – or even worse. But this is not yet 1991 - nor is it likely to get to that point. The consensus is for growth of just under 2% next year – hardly calamitous. Even if the outcome is worse, a repeat of the Nineties experience of soaring unemployment and home repossessions seems a distant possibility. Here are five reasons, i...