News Tag: shrink
April 23, 2009
Europe’s largest economy, Germany, is the latest to receive a gloomy outlook after leading economic think tanks forecast that the economy is set to contract by 6% this year and 0.5% in 2010.
In comparison, the International Monetary Fund (IMF) is forecasting that the German economy will contract by 5.6% this year.
The bad news continues for ...
German economy set to contract by 6% and unemployment to hit 5m
by Kay Murchie
March 9, 2009
The World Bank is providing the gloomiest forecast yet for the global economy predicting that it will shrink this year for the first time since the Second World War.
The forecast is part of a report which has been prepared for next week’s meeting of finance ministers from the 20 industrialised and large developing countries.
According to the World Bank by ...
World Bank gives gloomy forecast for global economy
by Kay Murchie
October 1, 2008
According to the Chartered Institute of Purchasing and Supply's (CIPS) purchasing managers' index, the UK’s manufacturing sector is now shrinking at the fastest rate since records began in January 1992.
Last month the index fell to 41, the lowest reading ever and any reading under 50 indicates a contraction.
The survey will no doubt increase fears that the UK is entering ...
UK manufacturing shrinks at fastest rate since 1992
by Kay Murchie
August 20, 2008
Market analyst, Datamonitor, is predicting that the UK mortgage market will shrink by nearly 20% this year.
Despite a flurry of rate cuts in recent weeks, which has seen average interest on two-year fixed-rate loans topple from a ten-year high, Datamonitor paints a bleak picture of the UK home loan market.
The credit crisis has reduced the number of lenders and products; mortgage ...
Mortgage lending to shrink by 20%
by Gill Montia
