UK facing double dip threat, warns Woodford
News Category: Industry News
Published: 15-Sep-2010
Star hedge fund manager Neil Woodford has said that the UK could slip back into recession, with property prices to fall hard.
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.”
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