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The UK has moved into recession about 3 months after Germany. UK negative growth is expected between 2% and 3% in 2009 and interest rates may hit 1% - 1.5%, RPI inflation should fall to -1% to -2%. Germany have not yet made any moves and with engineering a major export, they may be hit the hardest in the Euro zone.
Spain are expected to suffer from lower visitor numbers from Germany and the UK, starting in the summer from June 2009.
Spain are expected to suffer from lower visitor numbers from Germany and the UK, starting in the summer from June 2009.