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Fears of a double dip recession start to grow

A report by the British Chambers of Commerce has found that three quarters of the 400 businesses which they surveyed are concerned about the potential for a double dip recession in the UK. This is a bitter blow to hopes of a UK economic upturn in the short to medium term and this pessimistic outlook could itself impact upon economic performance and become something of a self fulfilling prophecy.

Fears of a double dip recession have been growing for some time now and the fragile nature of the UK economy is at the heart of these fears. When you also throw in the fact that the Eurozone is on the verge of meltdown with Greece, Ireland, Spain and Portugal struggling and others known to be nearing crisis point, it is not difficult to see why concerns are growing. Whether the European Union is in a position to bail out those in need of extra capital in the short to medium term is a question on the lips of many people.

After a period of relative calm it seems as though the worldwide economy may be on the verge of a potential return to difficult economic times.

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