The UK appears to be showing the signs of a possible second recessionary phase with a retail malaise and consumer confidence shaky at best. Consistently high fuel price rises, increases in utility costs around the corner and food inflation forcing households to review their weekly spend. Interest rates’ remaining static has become the “norm” over the last year or so but this will not continue. Is the “double dip” going to become a reality?
The prognosis on growth has been reduced by both the Government and the IMF and with companies regularly going into administration, and continued cut-backs by businesses, it would appear that the Japanese stagflation model may be mirrored in the UK over the next few years.
It is not all doom and gloom with a number of businesses becoming more focused and streamlined with even some growth opportunities being exploited. Many businesses who have survived through the prolonged downturn are now looking ahead to the future.
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