There is a one in three chance that the economy could shrink in 2012, the independent Office for Budget Responsibility said on Tuesday.

The OBR's latest forecasts, announced alongside the coalition government's Autumn budget statement, estimated the economy would grow by just 0.7 percent next year.

Given that central view, past forecasting performance suggests there is a roughly one in three chance that GDP will fall year-on-year in 2012, the OBR's Robert Chote told reporters.

(Reporting by Matt Falloon)