Economic Activity Grinds to Halt As Rates Rises Hit Home ; Interest Rates
Birmingham Post › August 14, 2007
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Summary
Relentless rises in interest rates are set to trigger a sharp slowdown in UK economic activity, according to the British Chambers of Commerce.
The BCC's economic adviser, David Kern, said: "In reaction to large increases in interest rates, the August 2007 BCC quarterly economic forecast is signalling a marked slowdown in the pace of UK economic activity. UK GDP growth is set to fall to a below trend pace towards the end of 2007, and growth is forecast to remain below trend during much of 2008.See the full content of this document
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Economic Activity Grinds to Halt As Rates Rises Hit Home ; Interest Rates
"Year-on-year GDP growth is forecast to decelerate from an above- trend 3.1 per cent in quarter four 2006, to two per cent in quarters two and three 2008.
"But there is a risk that the ...See the full content of this document
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