; Osborne Downgrades Growth Amid More Grim Economic News
Western Mail › September 08, 2011
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Summary
A SLEW of dour data has compounded the UK's economic woes - as Chancellor George Osborne admitted the recovery will be "choppy". After Mr Osborne said the growth forecast for the economy would be downgraded in a speech to Lloyd's of London, it emerged yesterday that there was a further fall in house prices across the UK, with the Halifax's monthly survey showing a drop of 1.2%.
And in the retail sector, there are more signs that stagnant consumer spending is hampering the recovery on the high street - with more than a quarter of shops lying empty in some parts of Wales.See the full content of this document
Extract
; Osborne Downgrades Growth Amid More Grim Economic News
After a summer of poor data in the housing sector, there was more grim news yesterday with the average price of a house falling month- on-month to pounds 161,743 in August, according to Halifax - although the "more reliable" quarterly change showed a 1% rise.
Martin Ellis, housing economist at Halifax, said prices and activity in the market should be stable over the coming months.The findings are in...See the full content of this document
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