Economy may have far worse in store for us

ONE thing that can be said with certainty at this stage: growth in 2008 will be well below last year’s out-turn.

Every report over the past six to nine months has been revised downwards to date as concern grows that the economy might be dragged into recession by the credit crisis.

One of the difficulties in trying to stay positive about what’s in store for us is that all of the news looks to be getting that bit grimmer with each passing day.