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Clegg: "That kind of language over a prolonged period of time can have a dampening effect on mood, which is very important in an economy."2:24 PM May 22ndvia web
...so IMF definition of recession very different from that of most other economists4:55 AM May 22ndvia web
At IMF press conference I asked Lagarde why no mention of UK recession in report. She said because UK GDP for 2012 expected to be positive..4:53 AM May 22ndvia web
Last Aug IMF said UK GDP growth 2011/12 would be 1.7%: ind.pn/no6FFk 2011 growth was 0.8%. Already "significantly below forecasts"?4:41 AM May 22ndvia web
IMF also argues that if economy gets significantly worse government should cut VAT, as advocated by @edballsmp4:14 AM May 22ndvia web