January 16, 2005

Deloitte predicts economic slowdown

by brian_turner

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Business consultants Deloitte, in 2005 – Tough times ahead?, indicate that they expect the UK ecomony’s “golden period” of the past ten years to come to an end.

Citing a slowdown of the housing market as the major economic brake, it predicts this will impact comsumer spending, resulting in lower economic growth than forecast.

Interestingly enough, the report, primarily authored by Roger Bootle, downplays the impact of oil on retail prices, and expects “aggressive” rate rises from the Bank of England, with interest rates as low as 3.5% for 2006.

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