Tuesday, 8 January 2008

UK financial sector - hard times are here

That credit crunch is certainly cutting into the UK financial services sector. In the latest CBI quarterly survey, over 44 percent report a drop in activity during the final months of 2007. Nor were respondants particulaly optimistic; 70 percent thought that the credit squeeze would last for at least another six months. Furthermore, a record number of firms, 24 percent, also said their ability to raise funds would constrain growth in 2008.

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