Recession 'not over yet'

13/10/2009

The UK might not have emerged from recession over the third quarter of the year, according to new analysis released by a business group today (October 13th).

In the British Chambers of Commerce (BCC) report, Britain was seen to be "on the brink" of economic growth at the moment, with "good progress" being made in the manufacturing and service sectors.

However, previous reports from other analysts had suggested that the recession ended over the summer.

The global credit crunch, the main cause of the downturn, was revealed to be affecting British businesses.

According to the BCC, cashflow remains "weak by historical standards".

Employment levels in the crucial services sector were also seen as falling, rather than rising.

BCC director general, David Frost, said: "It is vital that the government now demonstrates a clear determination to support wealth-creating firms.

"Unless business confidence is nurtured and allowed to drive the economy out of recession, the country's recovery will be stunted, and we will face a risk of a double-dip recession."

The UK is economy expected to shrink by around four per cent across 2009.

Tags; Current UK Economy, Young Family Finances, Retirement Money Problems, Credit Card Lifestyle, Recent Graduate Debt,

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