The UK Unexpectedly Stays In Recession

The UK economy was dealt a bit of a disaster blow this morning after it was revealed the economy shrunk a further -0.4% in the last quarter, meaning we remain in recession. It was widely expected for the UK to return to growth in the last quarter, but these negative results may dampen the mood of recovery somewhat, and really put into perspective the size of the task at hand, getting the economy back on track. This is also the longest recession on record, a detail the industrial sector probably didn’t want to hear.

This could have a negative affect on our industry. While companies have been doing their best to beat the doom and gloom and keep their heads above water, this, coupled with 50% glass price increases by the major glass manufacturers, could be the two final nails in the coffins of those companies who have just managed to survive through the year by the skin of their teeth.

What will be ultimately concerning is the upcoming winter period. The double glazing industry and the country as a whole was relying on the third quarterly figures to be positive, giving the economy some momentum heading into the Christmas period. Now, thoughts will again be turning back to just surviving through the winter and hoping to make a more positive start when spring comes around. I've said in earlier posts that there may not be the bloodbath in company insolvencies that some had predicted. But after the latest figures from http://www.double-glazing-forum.com/ and these latest quarterly figures out today, I'm forced to change my opinion and believe that it could be a much tougher winter period that I had first thought.

SIGN THE WINDOWS SCRAPPAGE SCHEME PETITION NOW!: http://www.petitions.number10.gov.uk/windowscrappage