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UK will sink into recession this year, says OECD

The UK will be in the grip of a recession by the end of the year, predicts the latest economic forecast from the Organisation for Economic Co-Operation and Development.

The interim economic assessment from the OECD is predicting that the UK’S economy will shrink by 0.3% in this quarter and by 0.4% in Q4.

This means the country’s faltering economy will have met the criteria for a technical recession with two consecutive quarters of negative growth.

Shadow chancellor George Osborne has noted that the UK is the only country out of the G7 to be facing the prospect of recession over the coming year.


Halifax sees 1.8% fall in house prices

Halifax has reported a 1.8% fall in house prices from July to August 2008, taking the average house price down to £174,000, a fall of 10.9% from last year.

Coventry sends itself to top of the pile

A couple of weeks ago I was tempted to write a piece suggesting that the financial services industry was in danger of going the same way as UK car makers did back in the early 1970s.

'Feeling the Squeeze'

Royal London carried out a UK wide survey with 2,500 consumers age 35-44 over the summer. The survey found that over a third, 34 per cent, said their finances felt Squeezed and so were struggling to meet day-to-day expenses, despite 87 per cent being aware that they need to save more. However, the survey did […]


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