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Article: UK at 'serious risk' of recession.
- Article from:
- Lancashire Evening Post (Preston, England)
- Article date:
- July 8, 2008
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The UK is now "at serious risk" of slipping into a recession amid falling orders and rising costs, according to a leading report.
The study by the British Chambers of Commerce (BCC) has shown "alarming declines" in the second quarter of the year, with the number of firms reporting lower orders outnumbering those recording rises for the first time since 1990.
It also showed that firms in the North West expect to have to shed jobs in the coming months with manufacturers and service firms both predicting lower profits.
On Tuesday, BCC president Peter Mileham, a director at Preston-based manufacturer Liquid Plastics, said that all the key economic ...