Thursday, July 31, 2008

UK housing, consumer downturn fans recession fears

UK housing, consumer downturn fans recession fears

House prices fall at fastest annual rate since Nationwide survey began in 1991 *Consumer confidence lowest since survey began in 1974 * BoE's Besley says restrictive monetary policy appropriate By Christina Fincher and Matt Falloon LONDON, July 31 (Reuters) - British house prices crumbled at record rates and consumer confidence hit historic lows, data showed on Thursday, fuelling fears that a consumer-led slowdown could tip the economy into recession.

Posted by housebear @ 11:03 AM (107 views)
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