THE chances of recession in 2012 have been estimated at 75%, according to the latest Lloyds Bank Corporate Markets Business Barometer “monthly snapshot” for December.
A 3-in-4 probability of recession is likely, given the barometer’s predictive nature.
The report also showed a drop in confidence for economic prospects to a three- year low, driven by the ongoing eurozone crisis.
Trevor Williams, chief economist at Lloyds Bank Corporate Markets, said: “Our survey seems to indicate companies in the UK are bracing themselves for a period of stagnant or even negative growth, with the eurozone crisis affecting confidence across the board.”
He said much depended on actions by European policymakers.
