So does this mean we are heading towards another recession-like status for the economy, or are we jogging along and warming up before we make a dizzying uphill climb? Well, with both scenarios jostling for equal attention, it is the economy that is getting all the attention here.
However, the fact that the UK economy might just bite back with the help of austerity cuts has not faded on most financial experts. As a chartered tax accountant in London quips, “It is not until the next year that we actually find what will come of the austerity cuts and the slowly recuperating economy, but the signs do look good.” By signs he meant the booming manufacturing and export businesses – something that has started up as it had been before.
What is worrisome, though, is the fact that the property market in the UK has not been doing well enough for experts to look happy. In fact, housing rates went down even at the start of this quarter – which has sent homeowners as well as real estate agents in a scurrying race for cover.
So will the economy be able to claw its way back into global reckoning like the Asian economies did a year back? Or is it slowly spiraling into out of control mode like Greece has? Only time will tell!
