Watch out for that double dip

Sushil Wadhwani, the former MPC member who now runs hedge fund Wadhwani Asset Management, is reported to have said that the UK economic rebound could be snuffed out by a second dip next year that would be even more painful than that of 2009. It seems that Mr Wadhwani believes that there is mounting evidence that the UK economy is following the path set out by the Japanese economy in the 1990s, which saw the the world's second-biggest economy apparently recover from its initial economic crisis only to then become trapped in stagnation for two decades.

Cheery prospect? Oddly the BBC prefer to report that house prices may rise next year as they try to push the green shoots narrative in an effort to boost the Labour government's chances of staying in power.