Page last updated at 12:15 GMT, Friday, 23 January 2009

Warning of 'severe and protracted' recession

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A professor of economics at the Stern School of Business at New York University has warned of ''a severe and protracted recession'' in the UK.

Gross domestic product in Britain fell by 1.5% in the last three months of 2008 after a 0.6% drop in the previous quarter.

Professor Nouriel Roubini told the BBC's Stephanie Flanders there were difficult times ahead.

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