How hard is the cold wind of Recession blowing where you live...?

[Bry Nylon]

Post the signs of the Downturn from your local area here...

I'm sure it is far worse than this, but just off the top of my head....

Saffron Walden, north Essex

8 shops closed since Christmas, including Woolies and Eaden Lilley ( a significant independent dept store - think Grace Bros. from Are You being Served).

4 mates from my local pub have lost their jobs - one from Leman Bros., 2 skilled engineers and an IT contrator in the City

Local pub is DEAD 7 days a week now.

We're all doomed

 

[franks brother]

"this one goes to eleven"

 

[Safeway]

Haven't we already done this?

 

[Cian]

Dunnes (think M&S but a bit cheaper) went from 24hr to 18hr to now even less; Tescos fuel station is down to 16hr opening from 24; construction has halted completely on a new pub/restuarant building; NONE of the retail units at the new Tesco are occupied 3 months after being finished.

No mates have lost jobs since a batch quite some time ago in construction; most of them are off in the middle east now though.

 

[murciagull]

Different slant on it

In Spain the construction industry is at a standstill

A lot of expats who rely on fixed income from the UK have seen their pensions drop 40% due to the weak pound.

House prices are dropping faster then the UK because nothing is selling, so these pensioners cannot raise capital by downsizing their properties. A lot are going back to the UK.

Many bars and restaurants that cater for expats are empty and closing down

The spanish dont seem too badly affected at the moment, think that may change this summer beacause, again due to poor exchange rate, there won't be as many holidaymakers coming as usual.

On the bright side any one who has any spare money can pick some great deals on houses (no i'm not an estate agent)

 

[Hunting 784561]

Out here in the slums of West Saltdean/Rottingdean Heights, times are getting really particularly grim.

I am down to just 10 Romeo 'Y' Juliettas in the Humidor, and the last case of the Chateau Rothschild '61 beckons.

 

[Tom Hark Preston Park]

Certainly no IT contracts in Sussex. None in London either, unless you are Security Cleared and want to work on a Criminal Justice system. A few in far-flung corners of the empire like Cardiff, Bristol and Norwich, but that's about it. Oh, and Zurich. There's jobs in Zurich. Apparently.

 

[Lush]

Different slant on it

In Spain the construction industry is at a standstill

A lot of expats who rely on fixed income from the UK have seen their pensions drop 40% due to the weak pound.

House prices are dropping faster then the UK because nothing is selling, so these pensioners cannot raise capital by downsizing their properties. A lot are going back to the UK.

Many bars and restaurants that cater for expats are empty and closing down

The spanish dont seem too badly affected at the moment, think that may change this summer beacause, again due to poor exchange rate, there won't be as many holidaymakers coming as usual.

On the bright side any one who has any spare money can pick some great deals on houses (no i'm not an estate agent)

That was a (chips with) gravy train that was always going to derail, sooner or later.

 

[Tom Hark Preston Park]

The spanish dont seem too badly affected at the moment, think that may change this summer beacause, again due to poor exchange rate, there won't be as many holidaymakers coming as usual.

BBC seems to think differently?



Spain's economy enters recession

Unemployment in Spain has been rising sharply
Spain's economy is in recession for the first time since 1993, according to figures from the Spanish central bank.

The Bank of Spain said gross domestic product (GDP) fell 1.1% in the final quarter of 2008, following a 0.2% decline in the third quarter.

The Spanish government has already forecast that the country's GDP will shrink by 1.6% during 2009.

Spain has the worst unemployment rate in the EU, with 13.9% of the workforce out of a job.

The latest labour figures from the Bank of Spain showed that unemployment rose by 3% in the quarter.

The eurozone as a whole entered recession in November.

Real estate bubble

Spain's economy has in recent years been one of the healthiest in Europe, but the global financial crisis and rising unemployment have hit it hard. The fact that the adjustment is so brutal is a reason to be optimistic for the longer term

Dr James Nixon
European economist, Societe Generale

The country's reliance on construction means it has also suffered from the collapse of the real estate bubble.

Mortgage lending was down 51% in November, marking the biggest fall in 10 straight months of decline.

"Spain is going through a very sharp correction having grown very rapidly for a decade," said Dr James Nixon, European economist at Societe Generale. "That growth is now being very sharply reversed.

"Although that is very painful now, the fact that the adjustment is so brutal is a reason to be optimistic for the longer term."

Separate data from the car manufacturers' association, Anfac, showed car sales fell 28% in 2008, the largest-ever yearly decline.

 

[Don Quixote]

Americans are saying that Britain is "Finished". Probably ture, although we were finished officially after the second world war.

 

[seagullsovergrimsby]

In Grimsby , Mariners Foods (owned by Icelandic group Bakkavor) 2 factory sites closing with 530 redundancies. Tioxide (chemical factory producing pigments) closing with 210 redundancies. Job vacancies have plummeted and equates to 1 vacancy being chased by 6 unemployed on JSA

 

[Hunting 784561]

Americans are saying that Britain is "Finished". Probably ture, although we were finished officially after the second world war.

But the same thing will happen to the Americans. The cost of fighting too many overseas wars - their Imperial Over-reach - plus a knackered economy means that they are in for some hard times indeed.










Ha !

 

[surrey jim]

700 job losses where I work, although mainly through naturael losses ie not replacing retireese

 

[¤DãŃn¥ §êãGüLL¤]

Hehe.

 

[dougdeep]

Hehe.

Good point, well made!

 

[¤DãŃn¥ §êãGüLL¤]

Good point, well made!

Thanks Douglas