We have long been of the view that the global economy is slowing dramatically, and that recession is...
We have long been of the view that the global economy is slowing dramatically, and that recession is imminent - or indeed a reality - in the US. In the past nine months, financial markets have also rapidly moved towards this view. In the UK, the outlook is also less than rosy. There is an almost constant flow of negative housing market news. The fact that UK banks and building societies are reining in mortgage lending means house prices probably have a lot further to fall. All of this paints a grim picture of the prospects for the UK economy over the rest of this year and into next year. ...
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