UK 'will not recover until 2012'

to contract - kurczyć się
The economy has contracted by 4.2% since May 2008, according to NIESR.

consistent - zgodny, spójny
Their forecast is consistent with what other independent forecasters are predicting for this year and next.

although - pomimo
Although figures have not yet reached those of the 1980s recession, NIESR has recorded a similar pattern of decline.

property price falls - spadki cen nieruchomości
And expectations for property price falls continued to moderate during the month, with consumers thinking house price values will fall by 3% in the next six months, compared with a predicted 4.7% drop in the previous survey.

Źródło: http://news.bbc.co.uk/2/hi/business/7989061.stm