Britain at serious risk of recession as orders fall sharply

By David Prosser, Deputy Business Editor Britain is now at "serious risk" of a full-scale recession, the British Chambers of Commerce will warn today, as a series of new indicators suggests the economy is now slowing much more quickly than had previously been thought. In particular, the BCC will say that the services sector is experiencing a sharp downturn, publishing figures that show more firms saw a fall in the number of orders during than the second quarter than a rise, the first time this indicator has turned negative since 1990. The BCC warned the UK now faces a "serious risk" of moving into recession, with its data suggesting a "menacing deterioration" in the outlook for the UK. David Kern, the BCC's economic adviser, said: "The outlook is grim and we believe that the correction period is likely to be longer and... [read full story]