Britain's economy will remain shaky but will narrowly avoid recession as long as another Northern Rock is not around the corner, according to a report out today. The prediction, from the National Institute of Economic and Social Research (NIESR), comes after data released yesterday showing that activity in the country's manufacturing sector declined in April to its second-lowest level in two years. NIESR forecasts that growth will weaken to around 1.8% this year and next, from 3% in 2007, as a result of the credit crunch and soaring oil prices.How reliable is this forecast? Does it agree with other recent forecsasts?
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