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Gloomy outlook for UK economy

THE DHL/GALLUP quarterly survey of manufacturing exporters found that just 30 per cent expected increased orders over the next three months, and that the strong pound gave exporters the greatest cause for concern.

The Economist Intelligence Unit (EIU) believes the economy will grow by just 1.6 per cent next year, down from its earlier estimate of 1.7 per cent. By the end of this year, UK economic growth will be "weak or zero" according to the EIU's quarterly survey.