Nov. 18, 2008 -
PRLog -- London (Shakespeare Finance): BCC or the British Chambers of Commerce has given a statement indicating that the UK economy might be subjected to a severe session of economic turbulence and atrocities in the upcoming period. This already can be inferred from the hiking unemployment levels which has brought the growth rate to an expected but sudden halt. Now all the eyes are on Brown headed government, which is expected to infuse a fresh lease of life into the already paralysed economy by introducing a significant dose of capital into the economy nerve wires. However, speculations are high that sterling might hit an unbelievable nadir, opening gateways to subsequent crashing of economy.
Till date, the Bank of England's most of the attempts to neutralise the negative impacts of the nemesis caused due to deficiency of liquidity, have tanked, complicating the situation further. Investment spending and consumer spending levels have plummeted to a significant low. The fall in the stock quarter too has lead to serious repercussions in the form of recession. However, the lobby (BCC) claims that suspension of bailout is an appropriate step, as it could lead to worse scenario later on in the coming period. Interestingly, experts from BCC have predicted that the growth rate of United Kingdom is expected to come further down, and it is expected that it will fall below the zero mark in 2009, before making a comeback, which looks highly hypothetical for the time being.
Meanwhile, the secured loans products of UK, especially the quick secured loans product too have registered a meteoric fall, implying the aforesaid statement from BCC.
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