Faltering economy 'could hurt UK savings accounts'
www.moneynews.co.uk > Banking > Faltering economy 'could hurt UK savings accounts'
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Faltering economy 'could hurt UK savings accounts'
Thu 7th Apr 2011
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James Roberts at Pure FX said if the first quarter of the year shows a negative result for gross domestic product then the UK will have slipped back into recession and this situation would not be ideal for anyone.
He commented: "The chancellor revised [gross domestic product] down to 1.7 per cent. I tend to agree with him. I really don't think growth is going to be particularly good this year. I wouldn't challenge [the chancellor's] figures."
Figures published by the Bank of England revealed recently that the number of mortgage approvals rose to 46,967 in February this year - an increase of 1.2 per cent on the six-month average.
Indeed, HML chief commercial and finance officer Neil Warman noted it is a positive development to see more lending taking place across the country.
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