Manufacturing hits 10-year low

The housing market should remain buoyant, despite concerns the UK is entering a period of recession, according to Halifax. Martin Ellis, group economist at Halifax, said although the economy is not heading for a full-blown recession, spending may be affected. He added: 'This is more of a slowdown than a recession. The service industry, for example, is slowing. This could have an adverse effect on consumer confidence and unemployment could rise later this year.' Ellis said this will have an effect on the housing market but emphasised that it is far from critical. He said: 'We are not hea...