More than one third of financial services practitioners think the UK faces a double-dip recession, according to survey conducted by the Chartered Institute for Securities & Investment.

The poll was conducted on the CISI website, following news that the UK economy shrank by 0.6% in the last quarter of 2010. Around 400 people took part in the survey.

One respondent, who was among the 36% of respondents who fear a double dip, said: “rampant inflation will reduce consumer spending and the inevitable interest rate rise will be the final nail in the coffin.””