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Reflecting the weaker outlook, sterling sank to a one-year low of $1.59.
Osborne himself said: "A weaker outlook for GDP, if realised, could present challenges for tax receipts in the future".
Despite the weaker outlook, Toyota showed it remained in an enviable position compared with Detroit's ailing automakers.
Despite this and a weaker outlook for Asia, the share price has outperformed; we reiterate our sell recommendation.
A large fall in investment, along with weaker consumer spending, was the main reason for the weaker outlook.
The weaker outlook underscored the size and scope of one of the worst economic downturns in decades.
Similar(23)
By region, employers in the Northeast offered the weakest outlook.
This afternoon's weak inflation reading from the US tends to reinforce this weak outlook.
Other analysts cautioned that a relatively weak outlook for its struggling business could be a deterrent.
On Thursday, European stocks were off just modestly, despite the weak outlook from the central bank.
Surveys by America's National Federation of Independent Business NFIBB) consistently identify a weak outlook for sales, not access to credit, as members' main worry.
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