… this time from the IIF, the major banks organisation, which warns of an almost unprecedented collapse in world economic growth and capital flows. It predicts that flows would drop from $928.6bn in 2007 and $465.8bn in 2008 to just $165.3bn this year.
Worryingly, the group also becomes the first to f/c a full global contraction in 2009 of over 1% with rich economies contracting by 2.1%. Certainly the UK is contributing to this poor outlook with yesterday's CBI retail report voicing concern that consumers will 'batten down the hatches even more tightly' post-Jan clearance sales. Matters do begin to look bad when even the Queen's up-market supplier Fortnum & Mason begins cutting back on staff.
Elsewhere, the government is under pressure with its AUTO LOANS announcement receiving mixed support & a new poll showing Labour trailing 12pts behind the Tories as voters voice 'bailout fatigue'. (InformaGM)
0 komentářů:
Okomentovat