UK recession has begun and may deepen - BCC

In its Q3 economic survey of 5,000 UK firms, the BCC cited a “collapse in confidence” across all sectors, with turnover and profitability at record lows in both manufacturing and services. The BCC says virtually all the key national balances of sales and orders have deteriorated, with many plunging further into negative territory. Turnover confidence in the manufacturing sector plummeted 28 points to 4%, while profitability confidence plunged 16 points to –11%. In the service sector, turnover confidence dropped seven points to 10% and profitability confidence dived 13 points to 12%. T...