New York, New York (PressExposure) September 13, 2009 -- "Source One International" is thought to believe that the V-shaped recovery on so many economists' wishlists is even more unlikely given the reluctance of the consumer to make an appearance and suggests that this absence is likely to be felt more acutely in the United Kingdom than in any of the world's developed economies.
Despite the herculean efforts of the Bank of England, the data emerging from various quarters indicates that, with the exception of the nation's housing market, Britain remains mired in recession and is unlikely to emerge until well into 2010 and even then, this will only be a technical emergence meaning that, to the man in the street, recovery will seem illusory.
"Source One International" says that the UK consumer has greater exposure to debt than anywhere in the developed world and suggests that rising unemployment and the probability of further quantitative easing by the country's central bank may conspire to cause a "double-dip" recession where the shallow recovery reverses to the downside once more before improving at a later date.
"Source One International" analysts are thought to believe that the Great British Pound is likely to take a beating on the foreign exchange markets at the merest hint of an expansion of the controversial program beyond the Â£175bn already committed to.
"Source One International" analysts also hinted at the prospect of the UK losing its AAA country credit rating along with several other European nations.