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UK stock market posts worst year on record

The UK stock market has today posted the worst year on record with a fall of just over 30% in UK stocks over 2008. And while there were hopes that 2009 would see a substantial improvement in the UK economy these hopes appear to be fading very fast with the outlook for the UK stock market still very cloudy. While the UK banking sector has grabbed the headlines over much of 2008 it is the housebuilding sector which has borne the brunt of the downturn with a fall of 85%.

While there were hopes that the taxpayer led bailout of the UK banking system would lead to increased business levels this does not appear any closer today and many are suggesting a 2009 could see a credit crunch part two hit the UK. If this was the case we could see many of the well-known faces of the UK housebuilding sector encounter further serious financial trouble and a substantial shrinkage of the industry as a whole.

The 30% fall is officially the largest one-year fall on record but of more concern is the immediate future which appears as uncertain as ever. It looks as though 2009 could be a very testing time for the UK economy and stock market.

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