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Economic indicators take a definite downturn

Economic indicators in the UK have taken a definite downturn with confidence, output and employment indexes all falling during the month of September. Slowly but surely the nightmare scenario which some economists had suggested only a few months ago is starting to come together and there are real concerns for the UK economy in the short to medium term.

While David Cameron and his coalition colleagues have suggested over the last few days that the Bank of England has the go-ahead to introduce various fiscal stimulus programs and restart the quantitative easing programme, this may be too little too late. Aside from the fact that businesses are struggling it is the confidence issue amongst consumers and business leaders which is most worrying in the short to medium term. These are the people on the coalface of the UK economy and if they lose faith in the UK and rein in their spending then there is no way but down for the UK economy.

When you consider the VAT increase set to kick in from January 2011 as well as the ongoing cuts in the public services budget there is really very little to get excited about in relation to the UK economy in the short term.

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