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The Financial and Economic Activities in the UK - Case Study Example

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The following paper entitled 'The Financial and Economic Activities in the UK' presents recession which has been one of the important areas of discussion for economists because it can take an economy many years back by slowing down its economic activities…
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The Financial and Economic Activities in the UK
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Download file to see previous pages The financial crisis that emerged from the sub-prime-mortgage crisis in 2007 in the United States transformed into a global recession. The financial and economic activities of all the countries have been severely affected by this sub-prime-mortgage crisis. The industrialized economies have been hit hard in this crisis. The UK economy underwent the impact of this crisis in the second quarter of 2008. During this period, the UK faced the largest contraction in the economy on record. However, the latest statistics of the UK are predicting that the era of soaring borrowing and economic downturn is over.

At the end of the year 2008, the British economy could not come out of recession, showing the lagging position of the economy and everyone was afraid of the potential relapse in the following year. Although the recession emerged from the sub-mortgage crisis in the United States, however, the UK economy was at a disadvantage because it was highly dependent on the financial sector. The poor performance of the UK financial sector along with the increasing levels of consumer debt was keeping the state at a lag behind the other industrialized states, thereby, preventing the UK economy to recover from the global recession.

The official statistics that have been published in January 2010 reveal that the British economy is out of recession. While we cannot answer this question exactly unless there have been some visible trends in the economic conditions.

Before analyzing whether the UK is out of recession or not, looking into what has happened to the UK during the last few years (particularly before the recession) will be very significant. During the last ten years, the investment and growth in the UK have remained passive however, the economy has faced high levels of FDI. The financial sector has become stronger both domestically and internationally whereas; the manufacturing sector has gone down. Moreover, the growth of the financial sector spurred the total employment and housing bubble along with the boom in retail consumption enhanced household wealth. ...Download file to see next pages Read More
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