Falling output from British factories sparks recession fears again
Official figures released today show manufacturing output fell 0.2 per cent between June and July 2008.
Industry experts are predicting or should I say praying that interest rates will be cut in the last few months of 2008 as we’re seeing the longest period of decline in manufacturing output for over seven years.
If predictions are correct the UK economy will be officially in recession by the end of 2008.
The British Retail Consortium also reported high street conditions were at their worst as sales fell 5 months out of the last 6.
Tags: economy, recession, sales falling