Major downturn predicted for 2009

Britain should brace itself for a fairly rocky and steep economic downturn as it and world economies enter negative territory. This was one of the conclusions of John Ricciardi, partner at Iveagh Private Investment House.

Research by the Iveagh Wealth Fund expects world GDP to slow, a worsening growth rate in the euro zone, a deceleration in the US and the worst slowdown for decades hitting the UK. Iveagh uses key factors it thinks will have the most effect on markets each quarter.

"The consensus

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