I read that there are new signals today that Britain is on the brink of recession, with confirmation that the bulk of the economy is sliding rapidly into a severe downturn. In the strongest evidence yet that the slump is accelerating, an authoritative survey of 5,000 companies reveals what it calls a menacing deterioration in prospects in the past quarter. The findings from the British Chambers of Commerce show that conditions in the services sector, three quarters of the economy, are already at their worst since the last recession in the early Nineties. Services businesses, from restaurants and cinemas to accountants and architects, report that their sales, orders and confidence have sunk to levels unseen since that time. Manufacturing is also being pounded, with confidence falling to the lowest ebb since the end of 2001....
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