Britain bracing itself for a recession

A recent survey by Close Investments reveals that Britain is bracing itself for a recession. Over half of the 2,381 UK adults surveyed are concerned that a UK recession is coming, with Londoners and people in the South East the most concerned (57%).

The credit crunch is clearly playing on Britons minds, with 53% of people concerned about the credit crunch and 43% concerned about the affect it will have on them personally. Interestingly, for a nation whose home is their castle, the housing market was ranked 7th in the list of our concerns, with the under 25's and those in London, the Midlands and South West most worried about the property market.

Hannah Parkinson, Assistant Director: Marketing, comments: "The Close Investments survey highlights the concerns that people have about the economy. More than half of those surveyed believe that a recession is coming, but in particular those over 45 years were worried by a possible recession and inflation.

"Clearly people are worried about what the future holds for themselves and their families. No-one likes to plan for the worst, but it is sensible to do so. Saving for a ‘rainy day' and for your future is prudent financial sense, but when markets are turbulent and uncertain it can undermine peoples' confidence. Capital protected products, like the Close Escalator Funds, whilst not guaranteed, can ensure that even in times of recession and roller coaster ‘credit crunched' markets your investment savings are protected, which offers peace of mind."