Wednesday, Jul 30, 2008
Grim Picture Leading to the Grim Reaper
Wall Street Journal: U.K. Retail, Mortgage Data Paint A Grim Picture of Economy
LONDON -- The U.K. economy's outlook darkened further as retail-sales growth and home-mortgage activity slowed sharply.
The Confederation of British Industry, a business group, reported Tuesday that its measure of July retail-sales volume tumbled to its lowest in 25 years. Bank of England figures showed mortgage approvals in June slumped to their lowest since the data series began in 1999. The central bank also reported sharp drops in consumer and mortgage lending.
Posted by yt1 @ 11:13 AM (188 views) Add Comment
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