Star hedge fund manager Neil Woodford has said that the UK could slip back into recession.
Woodford, manager of the Invesco Perpetual High Income and Income funds, said in a live webchat with investors that a double-dip scenario is looking increasingly likely.
He forecasts that house prices could slide by as much as 30% between now and 2013, dropping between 5% and 10% a year over the coming 36 months.
He told investors: “I think the chances of a double dip – and by that I mean two successive quarters of negative growth in GDP – in the next year in the UK are now increased.”
Double dip looks likely, says Woodford
15 September 2010
Comments