Britain in recession 'within months' as bosses predict 550 jobs will be lost EVERY day

Britain is on the verge of a recession and the number of permanent job vacancies is falling, two reports warn today.

The British Chambers of Commerce describes the outlook as 'grim' and warns that a recession could start within months.

It says it has uncovered evidence of a 'menacing deterioration' in the economic outlook.

Another report, from the accountants KPMG, shows that the number of permanent job vacancies fell in June for the first time in five years.