The Office for Budget Responsibility (OBR) has made the same judgment in its recent reports.
The FT used the Office for Budget Responsibility's (OBR) own model to reach this conclusion.
The Office for Budget Responsibility has predicted that there will be growth in the first quarter of 2012.
The Goldman Sachs number is itself largely derived from numbers put out by the Office for Budget Responsibility.
For its part, the Office for Budget Responsibility thinks damage to the supply side has played an important role.
The Office for Budget Responsibility, the fiscal watchdog, expects a mere statistical blip.
Since 2010, the number working in the public sector has fallen by 300, 000 more than the Office for Budget Responsibility predicted.
For economists, the key change is to the Office for Budget Responsibility's (OBR) assessment of the economy, which I mentioned earlier.
So far the deficit is running more than 20% higher than last year and well above the Office for Budget Responsibility forecast.
The Office for Budget Responsibility (OBR) is the government's independent financial watchdog.
The Office for Budget Responsibility (OBR) is expected to downgrade its forecasts for growth in figures to be released alongside Mr Osborne's statement.
Investec economist Philip Shaw said he still expected the deficit to overshoot the Office for Budget Responsibility's forecasts from the Autumn Statement last year.
The City had expected GDP to grow by 0.5%, in line with a forecast from the Office for Budget Responsibility (OBR) in late November.
In spite of this, the economy has remained weak, with the the Office for Budget Responsibility now halving its previous 2013 growth forecast of 1.2%.
In May the government set up the Office for Budget Responsibility, to provide the government with independent forecasts of UK economic growth and public deficits.
The Office for Budget Responsibility report - published twice a year - is its assessment of the UK economy's likely performance over the next five years.
The MPs also questioned the track record of the Office for Budget Responsibility, set up in 2010 to provide independent forecasts for the economy and public finances.
The auction raised 2.3 billion pounds much less than the 3.5 billion pounds estimated by the Office for Budget Responsibility, the government's tax and spending watchdog.
Last month, the CIPD reported that the public sector had been shedding jobs at five times the rate previously predicted by the Office for Budget Responsibility (OBR).
And Ed Randall, who proposed the amendment, said the Office for Budget Responsibility, which the government relies on for its economic forecasts, had become a "laughing stock".
The UK economy will contract by 0.1% this year, according to the Office for Budget Responsibility (OBR), the independent body that makes economic forecasts for the government.
In fact, the Office for Budget Responsibility's forecasts - on which Mr Cameron's economic strategy depends - show household debt ratios going up over the next few years.
The agency added that the independent financial watchdog, the Office for Budget Responsibility, which was set up by the coalition government, had helped strengthen the country's fiscal institutions.
"When a further rise in borrowing is confirmed by the Office for Budget Responsibility next week, it will be a catastrophic blow to the government's credibility, " he said.
BBC: Ed Miliband: Cuts plan has locked UK into vicious cycle
Sir Alan was also the first chairman of the government's independent forecasting body, the Office for Budget Responsibility (OBR), but left after just three months in the job.
BBC: Sir Alan Budd and Hector Sants on New Year Honours list
But I suspect Mr Balls will be keen to compare those figures with the forecasts the Office for Budget Responsibility produced in June 2010, before Mr Osborne's first Budget.
As for the deficit, George Osborne told MPs that the Office for Budget Responsibility assesses the government is "on-course" to meet its target of eliminating it in five years time.
Both the Bank of England and the Office for Budget Responsibility, which prepares economic forecasts for the government, have warned that GDP may have contracted in the fourth quarter of 2012.
Sir Alan, a professor of economics, has been made a Knight Grand Cross of the Order of the British Empire, for services to economic policy and the Office for Budget Responsibility.
BBC: Sir Alan Budd and Hector Sants on New Year Honours list
The talks are part of the IMF's annual review of the UK economy, and will involve meetings with the Treasury, the Bank of England, the Office for Budget Responsibility, and independent economists.
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