Short-term prospects for UK economy 'remain dismal'.

(From Yorkshire Post)

Byline: John Collingridge City Reporter

In its latest quarterly forecast, the Ernst & Young Item Club said exports and other sources of overseas income will lead the economy through the recovery, as businesses tap into rapidly expanding Asian markets.Item's chief economic adviser Professor Peter Spencer, of the University of York, said: "There are good reasons to be optimistic about exports and overseas demand. The competitive pound provides the carrot and the weak home market provides the stick."The lack of domestic growth opportunities will force exporters and other organisations to seek overseas income streams, particularly in Asia, while …