A gloomy picture of a fast-weakening economy will be painted by a raft of data out this week. Economists warn the fallout from more policy developments and continuing financial turmoil will eclipse all previous bad news about how the downturn has hit employment, housing and consumer spending.

Unemployment figures published on Wednesday are expected to show a rise in the number of those out of work for the eighth month running. Paul Dales of Capital Economics expects the number on unemployment benefit to rise by 35,000 in September, taking the total increase since the trough to 140,000. “At this rate, the claimant count will have hit 1m by the end of the year.”