U.K. firms cut spending at fastest rate on record

08/28/2009 | Financial Times (tiered subscription model)

Economists are worried that a sudden fall-off of investment by U.K. businesses could put recovery at risk and drag on growth for years to come. Companies are scaling back investment spending at the fastest rate since records began in 1966. "The further sharp decline in business investment signals serious threats to Britain's long-term recovery," said David Kern, chief economist at the British Chamber of Commerce.

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