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Recession ‘looming' in the UK?
Consumer confidence has plunged to a record new low, prompting renewed fears of a recession, reveals a new survey...
The GfK NOP barometer of UK confidence scored minus 29 in May, down five points from April - the lowest reading since November 1990 - the start of Britain's last recession.
Rachael Joy of GfK NOP commented: “This is the ninth month in a row that the survey's confidence measure has fallen – something that clearly reflects the view held by many people that a recession is looming. The future months may see even further falls in confidence”.
On Thursday, figures from the Nationwide Building Society showed house prices fell 2.5% this month, the largest single drop in the 17-year history of the index
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