Rbs Forecasts Slow Recovery for Recession-Hit Welsh Businesses ; Financial Aid Offered to Small Firms

Summary

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REPAIRING the damage to household and corporate balance sheets will be a slow process, believes the Royal Bank of Scotland's economist Robert Gardner.

Aberdare-born Mr Gardner, who gave a series of seminars in South Wales last week, said: "The UK economy is shrinking at a rate we haven't seen since World War II, and while we expect growth to return before the end of 2010, the recovery is expected to be fairly pedestrian. Households and businesses need to strengthen their balance sheets before growth resumes in earnest.

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Rbs Forecasts Slow Recovery for Recession-Hit Welsh Businesses ; Financial Aid Offered to Small Firms

"This is likely to be a slow process. However, when growth does return, it is likely to be more broadly based, less dependant on financi...

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