The recession is now of a scale that dwarfs the early 1990s and could leave Britain's economy permanently scarred as dynamic private companies abandon the UK, a leading business lobby has warned, reports The Telegraph .
It is fast emerging that December was one of the worst months ever recorded for the British economy, with the British Retail Consortium reporting an unprecedented fall in retail sales, while business output and housing market activity dipped to new troughs. The British Chambers of Commerce reports a "frightening deterioration" towards the end of the year, in its quarterly economic survey, published today. It said that the manufacturing and service sectors recorded their worst output since comparable records began two decades ago. "The sheer scale of this comes as a surprise to many of u...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes