Recession

The Office for Budget Responsibility (OBR) has downgraded its outlook for the UK economy.

The eurozone has officially entered recession, the latest GDP data shows, as growth in core economies was offset by a surprisingly weak figure from the Netherlands.

The UK is out of recession and had its strongest quarter in two years over the three months to September, according to NIESR.

Bank of England governor Mervyn King has called the end of the recession in the UK and pointed to signs of growth returning to the economy.

July US employment figures have come in well ahead of economists' estimates, helping stave off fears of a new US recession, despite a small rise in the unemployment rate to 8.3%.

A top Bank of England economist has said his profession should take part of the blame for the financial crisis, according to the Telegraph.

Developed nations are stuck in a "never-ending cycle of recession" which will lead to a huge growth crisis in the summer of next year, Ignis' chief economist Stuart Thomson has warned.

Economists have warned the UK could suffer a triple-dip recession next year after the recovery effects of the Olympics wear off.

GMO's Jeremy Grantham has said there will be a number of opportunities for investors to snap up discounted European equities, as the crisis continues to roll on.

The financial crisis and collapse in US house prices has left the average household in the States 40% less well-off, a Federal Reserve study has said.