Economy: Britain teeters on brink of recession as companies cut back


	Economy: Britain teeters on brink of recession as companies cut back

JICWyllie

7-8-2008 10:52 AM

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economy, i-recession, i-risks, i-increase

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/ecb1ddca-b82b-4676-913f-0cd02b20e44a/FD80E5CD-FE46-4E17-8D97-1598F268B80F/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.guardian.co.uk/business/2008/jul/08/economicgrowth.economics" href="http://www.guardian.co.uk/business/2008/jul/08/economicgrowth.economics" style="font-size: 11px;">www.guardian.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/jul/08/economicgrowth.economics"><P>Howard Archer at Global Insight said: "The bad news on the UK economy is coming thick and fast, and the downturn appears to be deepening appreciably."</P><P>Alan Nolan, a director at KPMG, said: "This really is a sobering set of figures proving the credit crunch has finally taken its toll and is now severely weakening the UK jobs market."</P><P>Germany also reported "alarming" figures yesterday. Industrial output fell 2.4% in May - worse than expected. The drop, the worst monthly fall for more than a decade, on top of a 0.2% fall in April, added to fears that Europe's biggest economy, which grew by 1.5% in the first quarter, may have contracted in the second.</P><P>France and Italy are expected to report similar falls in industrial production this week, while Denmark is technically in recession and Spain and Ireland are suffering steep rises in unemployment.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/jul/08/economicgrowth.economics">the number of people placed in permanent jobs fell again in June, while vacancies for full-time staff dropped for the first time in five years.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/FD80E5CD-FE46-4E17-8D97-1598F268B80F/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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