UK Economy Already in Recession??

Josh Chandler · October 19, 2008 · Short URL:

Top forecasters have suggested that “The UK economy has “deteriorated dramatically”

According to a BBC Article, top forecasters have suggested that “The UK economy has “deteriorated dramatically” in the last three months, and is already in a recession“, of course we can look back to the 7th October where again a BBC article has quotes from a business group that “Britain is already in a recession”, well these guys have some guts to be announce their theories on this matter,  in my opinion is that we need to see where this bailout may lead us, negative commentary was however made about the matter by the BBC’s Business editor Robert Peston:

“What Gordon Brown and central banks have done today should stave off economic Armageddon - but it’s probably too late to save us from months, or even years, of sluggish growth.”

The thing that concerns me  about this economic slowdown is how people such as Alex Salmond of the SNP appear to be making unnecessary statements on Gordon Brown’s attitude calling him a “sub-prime minister” with respects to his financial policy, of course news was also announced that Salmond of the SNP was trying to halt to the Lloyds TSB Takeover of HBOS.

Mr Brown published a written article for the Telegraph which in essence he proposes our economy will come through the downturn stronger not weaker, the comment section of this article is particularly worth reading.

When is it however that we look at this as a recession, I ask many of my business tutors about this matter and they simply don’t believe we are there yet, at what point does it spread from being one countries recession to a worldwide recession? Indeed many question whether Brown can rebuild Britain’s economy correctly, or simply lumber the country with more debt.

I am truly not an expert on this matter, but I am very interested to learn a lot more about this issue Labour has been creating it seems for some time now, please leave your thoughts on the matter.

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