The UK is facing the serious risk of a recession, a survey by the British Chamber of Commerce revealed today. In its quarterly survey of around 5000 small to medium businesses the BCC found that rising costs and the credit crunch had seriously affected the cash flow of chamber members around the UK.
This comes in the same week as house builder Persimmon has laid off over 1000 workers, and loan company Firstplus has announced 300 job losses in its Cardiff office. So are we in Wales feeling the pinch or are we in danger of talking ourselves into a recession?
How long will it take us to recover from this slump or are we looking at a long summer of discontent for Welsh business?