Recession Recovery is Slowest for Decades

A recent report highlights that the recovery from the 2008 recession is slower and worse than from any other recession in recent decades. This is demonstrated by the fact that 16 quarters on from the trough of recession in 2008 the UK’s Gross Domestic Product has not yet reached its pre-recession peak.

Worryingly GDP shows little sign of growing quickly any time soon which coincides with a rise in secured debt as a percentage of disposable income which has doubled from 70% to 140% since the turn of the Millennium.

The trends are of concern for the future particularly if interest rates start to increase as this will bring undoubted pressure on consumers and their ability to repay loans.