Does an economic slowdown NECESSARILY mean lower equity values?

Hello,
I hope you don't mind me asking what is probably a very naive
question...

I'm am not very knowledgeable about economic matters..

but I would really like to know if, based on historical experience, one
can say that an economic slowdown in the UK will definately (or very
likely) mean that shares quoted on the LSE will lose value.

Sounds like Gordon Brown has revised down his figures for economic
growth, + there is a general feeling that heavy debt etc. is likely to
lead the UK economy into a bad patch...

Thanks in advance if you can shed any light on this for someone who has
not much experience or knowledge about these matters

regards

severalgrand

.

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