News Tag: slowdown
March 6, 2009
Official figures from the US Labor Department revealed today that 651,000 jobs were lost in February in the US, taking the jobless rate 8.1% - the highest level since December 1983.
Meanwhile, the organisation adjusted its January figures upwards to 655,000, while December’s losses were revised to 681,000 - the biggest single monthly decline since October 1949.
A total ...
US Labor Department reveals worse than expected jobless figures
by Kay Murchie
October 20, 2008
The US Federal Reserve’s Chairman, Ben Bernanke, is suggesting that the US needs another cash boost to encourage spending and promote consumer confidence.
The suggestion comes after the country recently announced a $700 billion (£380 billion) package to rescue the country’s ailing banking industry.
Mr Bernanke believes further Government spending may be required after he warned that the US ...
Ben Bernanke: US economy in very serious slowdown
by Kay Murchie
October 6, 2008
More evidence of consumers tightening their purse strings is unveiled today after figures from the Society of Motor Manufacturers and Traders (SMMT) reported that car sales plummeted 21% in September compared with last year.
September is a major month for car dealers, due to the introduction of new registration plates in August.
However, in the wake of the credit crunch, consumers have ...
Slowing economy sends car sales plummeting
by Kay Murchie
August 31, 2008
In an interview with the Guardian newspaper, Chancellor Alistair Darling said the UK is facing the worst economic downturn in 60 years and it will be 'profound and long lasting'.
Mr Darling's stark warning comes as the Nationwide revealed that the average house price has fallen by 10.5% over the last year – this represents the fastest fall since 1990.
Furthermore, ...
Britain facing worst economic conditions for 60 years
by Kay Murchie
August 27, 2008
The National Association of Estate Agents (NAEA) is demanding a review of Home Information Packs (Hips) because the slowdown in the housing market means that some of the packs are out of date before a property is sold.
The packs were intended to simplify and speed up the house selling process but the majority of estate agents opposed ...
Slow house sales put Hip searches out of date
by Gill Montia
May 6, 2008
Financial data provider, Debtwire, estimates that 150 UK estate agency branches are closing each week, as a result of the housing market slowdown.
The number of branches across the country has fallen to around 12,000 from approximately 13,000 at the beginning of January and job cuts in the sector amount to approximately 4,000 since the start of the year.
The news ...
Estate agents close 150 branches a week
by Gill Montia
