Titan Business Insurance now reckons that like the US, the UK could be set for slow growth for at least the next five years, or more.
Titan Business Insurance, one of the UK’s largest brokers, reckons that the UK, like the US, is due for five lean years as the true implications of the 2008 crash become apparent.
Economic forecasters now reckon that there is a lean period coming on both sides of the Atlantic and that it could be at least five years – some say even ten – before things get back to normal. And others fear that both economies could be heading for a double dip as the thoughts of recession loom large again after a disastrous time on the markets.
It appeared the game was up when America’s Central Bank announced that it intended to hold the official interest at current levels – close to zero – for at least two years. The markets panicked and on top of the country’s loss of its Triple AAA sovereign rating, the message seemed to be mostly one of capitulation. The US looks like it’s in for slow growth for the next five years.
Chief Executive Officer of Titan Business Insurance, Basil Tsapralis, said:
“It’s what we all in the business world, and those in the markets as well, didn’t want to hear. The script said that the US would drive out of recession and lead the way to a global recovery. That might have included the BRIC countries as well of course, but now it looks like we’re all stuck in a rut.”
Titan Business Insurance operates throughout the UK and is leading provider of polices to companies big and small. It prides itself on a high level of customer service and a very competitive pricing structure.
Contact: Titan Insurance on 0207 731 3700 for any enquires.