UK economy is slowing down and could go into recession says new report
UK economy is slowing down and could go into recession says new report
By Charles Kelly, Property Solutions Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast
A report by the IHS Markit/CPS purchasing managers suggests that the UK service sector is slowing down following construction and manufacturing.
The report suggests that the economy shrunk by 0.1% in the three months to September following a 0.2% fall in the previous quarter.
Yesterday, I reported that property price growth has almost ground to a halt. I recently reported that the ONS said that the house prices had slowed to the slowest growth rate since 2012.
Germany is economy is all but in recession and stock markets are going through a rocky patch.
Many people are blaming Brexit, but I believe that this is not the only factor. Economies go through regular cycles of expansion and contraction, boom and bust.
It doesn’t seem like we have had much of a boom since the last crash in 2008, but a longer session was avoided by governments printing money to the tune of trillions of dollars and central banks holding down interest rates.
However, just because a country is in recession, it doesn’t mean that you have to join it. You can take steps to ensure that your economy or your Ucomony keeps going, and even thrives in a recession, and works hard to see you through the storm.
Word of the Day
Macro Economics
Macro, from the Greek word meaning large.
Macroeconomics takes a big-picture view of the entire economy, including examining the roles of, and relationships between, corporations, governments and households, and the different types of markets, such as the financial market and the labour market.
There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.
See also:
3 Myths of Property Investment
Creative Finance Tools for Owning or Controlling Property
House Price Growth Slowest Since 2012, Say ONS
10 tips to survive and thrive in the recession – https://podcasts.apple.com/gb/podcast/money-tips-daily-by-charles-kelly-former-ifa-and-author-of/id1347175960?i=1000444007011
