- FTSE falls 2% in first hour of trading
- Housebuilder Persimmon cuts 1,100 jobs
Britain is on the verge of a recession and the number of permanent job vacancies is falling, two reports warn today.
The British Chambers of Commerce describes the outlook as 'grim' and warns that a recession could start within months.
It says it has uncovered evidence of a 'menacing deterioration' in the economic outlook. Another report, from the accountants KPMG, shows that the number of permanent job vacancies fell in June for the first time in five years.
The bleak predictions came as the FTSE 100 Index fell more than 140 points in the first hour of trading in a knock-on effect after a sharp overnight drop on Wall Street.
Britain in recession 'within months' as bosses predict 550 jobs will be lost EVERY day | Mail Online
Thankfully, my job and especially hubby's, are pretty secure. Tough times ahead it seems