Global gloom predicted to roll on

■ The world is set to suffer another year of sluggish growth, according to Capital Economics’ latest economic outlook, released yesterday. The worst of the Eurozone crisis is yet to come, Capital said, with its economy set to shrink by 2.5 per cent next year and a further one per cent in 2014. Japan is heading for further contraction this year, it added. In the UK, growth will stay sluggish, Capital predicts, stating that “quantitative easing is no panacea” to the economic slump.