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London on the verge of recession

cebr&#39s latest updated forecasts for the London economy in it&#39s regular forecasting publication, Quarterly Business Forecasts: London, show a series of changes in the estimates for London&#39s GDP.

GDP growth for 2001 is now estimated to be higher than was originally thought at 2.3%instead of 1.8%. As a result, although estimated GDP for 2002 is largely unchanged, the estimate for London&#39s GDP growth for 2002 has fallen from 0.7% in August to 0.2% in the latest forecast.

The forecast does in fact show two consecutive quarters of negative GDP growth in Q3 and Q4 of 2002 (which is the technical definition of a recession) but given the uncertainty about estimates for an individual quarter cebr believes it is more realistic to describe London as &#39on the verge of a recession&#39 based on the annual data.


N&P&#39s £5,000 reward for eco-sensitive self-builders

Self-builders who have incorporated energy-saving features in to their homes could win £5,000 in a competition by Norwich and Peterborough Building Society. The competition is open until 31st December 2002. It is estimated that around 20,000 people self-build their own homes every year and that number is growing. Environmental group Future Forests will plant eight […]

Trigold and CETA to trial protection system

Trigold has struck a new agreement with CETA, the UK&#39s largest general insurance network, writes Harriet Williams.Over 5,000 mortgage brokers who use Trigold&#39s award-winning system will take part in a trial that will provide them with access to CETA&#39s household insurance policies.Brokers will be able to source building and contents quotes from CETA via Trigold&#39s […]

Special effect

Sub-prime is dead. Long live specialist lending.It could almost be a cry from a battlefield but these are the sentiments of one of the country&#39s top sub-prime lender chief executives.The last 12 months have seen the specialist lending sector go from strength to strength with record levels of business written and, presumably, record profits made. […]

KMC stays on track to meet profit target

A broadened product range has put Kensington Mortgages on track to meet growth expectations this year, despite operating less generous lending policies than some competitors, writes Harriet Williams.In a briefing issued before the official close of the Kensington business year ending November 30, the lender reports that “profit growth is on track”.Kensington has widened its […]


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