The UK economy is edging dangerously close to recession with business turnover declining for the seventh consecutive month in December, according to the latest business trends report.
The research, produced by accountants and business advisers BDO, found output dropped to 91.4 in December, from 92.5 in November, according to the group's BDO Output index. The decline in output means business turnover is stubbornly below the crucial 95 mark indicating growth in the sector. The index, which measures turnover expectations in three months' time, shows businesses have not grown their revenues since July 2011. Peter Hemington, a director at BDO, said now is the time for the Bank of England to pull the trigger on a third round of quantitative easing to give UK businesse...
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