UK Money News
21st November 2007
Weaker economy 'could boost savings'
A weaker economy next year may make the personal finance environment more challenging but will provide help with money in terms of savings.
Statements to such an effect have been made by money news firm F&C Asset Management this week.
The company states that an economic slowdown has positives as well as negatives - because the situation means that consumers will focus on rebuilding their savings.
Jason Hollands, head of group communications for F&C, said: "On the one hand that has an impact on the economy because people are less willing to go out there and spend on the lavish goods that they have previously, but on the other hand it means that people rebuild their savings."
The firm does not believe that a "full-blown recession" is on its way, but predicts that many people will need to "tighten their belts" in the more challenging climate.
In other money news, the Manchester Evening News has reported that the number of companies floating on the stock market has fallen significantly in recent months, indicating a possible economic slowdown.
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