Monday, Jul 24, 2006
Economic boom nearing end
Telegraph: Britain told to shake off its mindset of graceful decline
Britain's economic boom over the past seven years is sputtering out as consumers reach the limits of debt and UK manufacturers face a relentless slide in global market share, according to the latest Item Club report of Ernst & Young.
Professor Peter Spencer, the group's chief economic adviser, said Britain had failed dismally to break into the fast-growing markets of China and developing Asia.
"UK manufacturers seem to be locked into a vicious circle of low profitability, low investment and lack of cost control," he said.
Posted by jason @ 07:40 AM (154 views) Add Comment
3 Comments
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1. paul said...
I don't see anything graceful in the current debt spiral.
2. Retiredbanker said...
The lack of priority given to manufacturing in the UK is a reflection of this Country being run by ex-public
school arts graduates.
Never mind, who needs industry anyway?. Everyone can find employment as an estate agent, in the media,
or working for the Government in a politically correct non-job.
3. Elpapasito said...
This is a very very frightening article.