Sunday, February 21, 2010

Economic indicators in the UK and the rest of Europe

UK Business lending Falls At Record Pace; UK Mortgage Lending Drops 32% to 10 Year Low; Bundesbank Fears Second Wave of Credit Crisis; Party's Over

Mike Shedlock makes some observations about lending to UK businesses, UK mortgage lending, UK government borrowing in January and European credit markets. The final sentence reads "The European recovery is on its last legs. The global recovery will soon follow. Prepare for an economic relapse. One is highly likely."

Posted by quiet guy @ 06:00 PM (1437 views)
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4 thoughts on “Economic indicators in the UK and the rest of Europe

  • stillthinking says:

    Not a double dip, just the first dip won’t be masked by government debt anymore.

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  • @1 – I can’t help but agree with you. I would say that it isn’t a double dip because we never got out of the first one. Absolute panic may be over, but recovery? Not so sure.

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  • So what are the chances we will get reasonable house prices in London?

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  • fallingbuzzard says:

    @1,@2, stimulus by definition creates a double dip as the stimulus is withdrawn, Q3 here will be the next contraction, probably Q4 US

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