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Massive Losses On Stock Markets Is Undermining Confidence

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Shares turmoil knocks confidence

Nick Goodway, Evening Standard

17 July 2006

LONDON business confidence, which had been recovering steadily since last year's terrorist bombings, stalled suddenly in the second quarter.
The dramatic fall in share prices during May and the subsequent volatile performance of the stock market appear to be major factors in the downturn, according to research out today from the London Chamber of Commerce & Industry (LCCI).
Its poll of 148 companies found that while
36% believe that London's economy will improve
over the next 12 months, 18% think it will get worse. That gives a positive balance of just 18% compared with 28% for the January-to-March survey. The downturn has been twice as severe in the financial services sector, with a balance of just 12% optimistic about the coming year against 32% in the first quarter.

A recession will curb investment activity and lead to the layoff of tens of thousands of city workers in the various markets. 1987 lead to the Great Crash of 1989-97 and the scenario is repeating itslef. The economy is, after all, cyclical.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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