The outlook for the UK economy next year is looking gloomy as businesses begin to lose confidence. Due to risen living costs it is expected that growth will be no more than 1% in 2009 according to the Ernst and Young item club.
Confidence among employers has also fallen to its lowest levels since 1996 according to the Institute of directors.
Recent studies have shown that within the next year it’s heavily likely that the UK economy could fall into a recession.
House prices are expected to fall by 10% this year and by 6% in 2009. That will cause concern for homeowners and alike.
However, there is still some good news in that businesses still expect to take people on next year and most organisations also believe that profits will be higher this year than last.
Time will tell to see how the UK economy will pan out.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment