25/09/2001
UK economy “holding up well” says CBI chief
Director General of the CBI, Digby Jones, says the UK economy is holding up well and that there is a danger of the UK talking itself into a recession.
In upbeat mood Mr Jones claimed that the UK economy was basically sound and was in good shape to ride out an economic slowdown.
Speaking on BBC Breakfast, Mr Jones blamed the media, and financial journalists in particular, for being overly pessimistic about the economy: “Financial reporting seems to be saying that things are going down, but actually the fundamentals of people’s businesses - turnover, activity, orders - are holding up across sectors.”
Mr Jones, who is due to address the Liberal Democrat conference on Tuesday, said that the biggest concern was that Britain might be talking itself into a recession that wasn’t really happening.
However, while admitting that the CBI’s most recent industrial trends survey has clearly indicated that there exist all the signs to indicate an industrial slowdown, Mr Jones said that with low interest rates, low unemployment and low inflation many companies were in much better shape to weather a recession than they had been in the early 90s.
He added that there was a big difference between a slowdown with a challenging business environment, and a recession. He said people should not be talking themselves into something that wasn’t “actually there”. (SP)
In upbeat mood Mr Jones claimed that the UK economy was basically sound and was in good shape to ride out an economic slowdown.
Speaking on BBC Breakfast, Mr Jones blamed the media, and financial journalists in particular, for being overly pessimistic about the economy: “Financial reporting seems to be saying that things are going down, but actually the fundamentals of people’s businesses - turnover, activity, orders - are holding up across sectors.”
Mr Jones, who is due to address the Liberal Democrat conference on Tuesday, said that the biggest concern was that Britain might be talking itself into a recession that wasn’t really happening.
However, while admitting that the CBI’s most recent industrial trends survey has clearly indicated that there exist all the signs to indicate an industrial slowdown, Mr Jones said that with low interest rates, low unemployment and low inflation many companies were in much better shape to weather a recession than they had been in the early 90s.
He added that there was a big difference between a slowdown with a challenging business environment, and a recession. He said people should not be talking themselves into something that wasn’t “actually there”. (SP)
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UK economy is slowly climbing out of recession
Amid recent gloomy economic news emanating from UK, the latest reports from the Confederation of British Industry (CBI) and the Office of National Statistics (ONS) suggest that the economy will turn around during the next year. The CBI's first economic report published in 2002 stated that the economy's annual growth rate may slow to 1.
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Amid recent gloomy economic news emanating from UK, the latest reports from the Confederation of British Industry (CBI) and the Office of National Statistics (ONS) suggest that the economy will turn around during the next year. The CBI's first economic report published in 2002 stated that the economy's annual growth rate may slow to 1.
31 August 2001
Dow Jones closes at five-month low
The Dow Jones has closed below the 10,000 level for the first time in nearly five months, at 9963.3. The result was further gloomy news on the economy for US companies and pulled Asian markets down in their stead, exacerbating the trend set by fresh waves of gloomy economic data from Pacific nations.
Dow Jones closes at five-month low
The Dow Jones has closed below the 10,000 level for the first time in nearly five months, at 9963.3. The result was further gloomy news on the economy for US companies and pulled Asian markets down in their stead, exacerbating the trend set by fresh waves of gloomy economic data from Pacific nations.
26 January 2010
Economy 'Turns Corner' Says Northern
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Economy 'Turns Corner' Says Northern
News today that the UK economy has come out of recession has been welcomed by a senior local banker. The UK was the last major economy still in recession, but today's figures - while positive - showed it had only grown by a weaker-than-expected 0.1% in the last three months of 2009.
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Division 'Costs' NI Economy Says RICS
The Royal Institution of Chartered Surveyors (RICS) has urged the Northern Ireland Executive to take on social division as a key objective of its capital spending policy.
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.