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Article: Hope has turned to dust ; It Was a bold proclamation by an institution regarded as one of the cornerstones of the financial world.
- Article from:
- Hull Daily Mail (UK)
- Article date:
- December 23, 2008
CopyrightCopyright 2008 Hull Daily Mail (UK). Provided by ProQuest LLC. (Hide copyright information)
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It Was a bold proclamation by an institution regarded as one of
the cornerstones of the financial world.
In March, PricewaterhouseCoopers (PwC) produced its annual
Economic Outlook survey, reassuring readers the UK was "unlikely to
slip into recession" in 2008.
At the time, Tim Charge, senior partner at PwC's Hull office,
said the country's economy was in a stronger position than in the
1990s - the last time Britain went into recession.
"Inflation, interest rates and unemployment are all much lower
this time around, which should help avoid the slowdown turning into
an outright recession," he said.
PwC was not alone in its optimism.
Even in the wake of the nationalisation of Northern Rock in ...