Interplay between economy and financial crisis intensifies

As everyone is already well aware, economic data in the UK and elsewhere in the world have taken a turn for the worse in recent weeks. UK industrial production, business surveys, and the volume of UK exports and imports all disappointed.

As everyone is already well aware, economic data in the UK and elsewhere in the world have taken a turn for the worse in recent weeks. UK industrial production, business surveys, and the volume of UK exports and imports all disappointed. Despite the sharp fall in sterling over the last year, the UK’s volume of goods exports in the three months to November fell by 3.2%, while the volume of imports was down by 6.8%. It is clear from these figures that the recession is not yet easing up, and indeed appears to be worsening. And financial markets remain clogged up as the economic downturn deepens, worsening credit risk for lenders.
 

 

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