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Fears of deep recession grow

by Catherine Woods - Wednesday, 12th November 2008 -

Fears of deep recession grow

Further interest rate cuts seem on the cards after a projection from the Bank of England suggesting the economy will shrink by 2 per cent next year and inflation will fall below 1 per cent in 2010.

A gloomy Mervyn King says he doesn’t know how bad 2009 will be. He’s quoted in the Guardian as saying: "It's almost certain that output will fall in both the third and fourth quarters of this year, and I don't know where it will go after that.

Inflation currently stands at 5.2 per cent but is now widely believed to be on the way down , providing relief for small business owners such as Grazing managing director Sam Hurst.

“Inflation is one of my major concerns but I’m less concerned about it now compared to two months ago. Prices seem to have stabilised recently,” he says.

Sterling has dropped following the bank's report.

Related articles
Interest rates: the impact on sterling
King admits UK is headed for recession
FDs dish out pay rises

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BUSINESS NEWS >>

Cash-poor Brits cut down on fine dining

By Rebecca Burn-Callander - January 09, 2009 11:47am GMT

To save pennies, more and more of us are spurning restaurants in favour of takeaways. Just-Eat.co.uk, an online portal for local restaurant takeaways, saw orders increase by 250 per cent last year.

Don’t write-off AIM

By Ian Cliffe* - January 09, 2009 11:22am GMT

The Alternative Investment Market, like all other financial markets worldwide, has suffered in the current economic climate. In 2008, only 67 IPOs were successful compared to 222 in 2007. Funds raised last year also dropped significantly, from £6.2bn in 2007 compared to £900m in 2008.

“I will survive this recession,” says Kelly Hoppen

By Rebecca Burn-Callander - January 08, 2009 3:46pm GMT

Designer to the stars, Kelly Hoppen, talks to RB about preparing for her second recession, capitalism and the sad demise of Wedgewood.

Lloyds TSB provides relief to SMEs

By Catherine Woods - January 08, 2009 3:02pm GMT

Lloyds TSB will pass on the Bank of England’s 0.5 per cent base rate cut to all its small business customers with variable rate loans and overdrafts.

How much do you need to retire?

By Stefan Wissenbach* - January 08, 2009 2:44pm GMT

The story of an entrepreneur can often be traced back to his past. But his future is also a vital influence on his business narrative.

Brochures on Saving and investing

BUSINESS COMMENT >>

Valentine’s Day PR puff is starting already

By Catherine Woods - January 08, 2009 4:54pm GMT

My views on Valentine’s Day are well documented.

Do you have a moral compass?

By Catherine Woods - January 08, 2009 3:40pm GMT

Is selling stuff to people who are sick morally wrong? One entrepreneur thinks so and has taken issue with Real Business for writing about companies that do so.

From concept to launch: a start-up's video diary

By Rebecca Burn-Callander - January 06, 2009 5:41pm GMT

Clive Payne has invented a new fitness product. Having turned down a contract with a big American manufacturer, he's decided to launch it himself. Week by week, he will document his progress. We're going to follow him!

The future's not so bright

By Rebecca Burn-Callander - January 05, 2009 4:22pm GMT

The only thing going up in 2009, aside from unemployment, will be sales of antidepressants, says Professor Marvin Zonis

Depressing days and Dave's Big Idea.

By Catherine Woods - January 05, 2009 4:15pm GMT

It comes as no surprise to me that today is considered the most stressful day of the year. I wonder if David Cameron feels the same after his big saving announcement?

Business Comment 

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