| Shaun, all the signs in the retail/leisure sector are that consumer confidence is very low, technically we aren't in recession BUT high street spending and retail sales are not increasing and most business would say its not a good year, anyone who increases net profit this year is doing well.
In most retail businesses prices are being driven down by cheap imports from China/taiwan as are margins, this is resulting in manufacturers/distributers and retail only just breaking even at bottom line. Not good and its difficult to consider investing in your business when its like this so long term it doesnt mode well.
Current financial policy from Tony and Gordon seems to consist of keeping economy hanging on purely by house price inflation and borrowing ( currently uk consumer borrowing is highest ever), the reason consumer confidence slipped was because house prices dipped. Gordon needs to fuel bottom end of housing market to keep the money train flowing hence the recent allocation of new house builds,luckily for him we live on an island so houses are at a premium.
long term manufacturing in uk is fooked but hey, why worry so long as your house increases.
we are now just like the US with borrowing habits.  |