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It’s how we make a difference.
The ITEM Club: latest economic outlook
Outlook hangs on how the credit crisis is managed
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The Ernst & Young ITEM Club’s Spring forecast says that the economic outlook depends critically on the Government and the Bank of England finding ways of alleviating the effects of the credit crisis. But with no real solution on the horizon, ITEM expects UK growth to slow to 1.8% this year and 1.5% in 2009. It expects consumer spending to grow by a mere 1% a year in response to falling house prices and home moves, while export growth will perk up in response to the fall in sterling.
The ITEM Club, sponsored by Ernst & Young, is the only economic forecasting group to use the HM Treasury model of the UK Economy. Its forecasts are independent of any political, economic or business bias. It’s another way Ernst & Young makes a difference, helping our clients achieve their potential.
For more on the ITEM Club’s forecast, see the ITEM Club page.
Profit Warnings
Crunch drives more profit warnings
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Profit warnings for the year to 31 December 2007 totalled 384, the highest annual figure since 2001. One in five of the warnings in the last quarter of 2007 explicitly blamed the fallout from the US sub prime mortgage crisis and the credit crunch. And, the majority of profit warnings blaming the crunch came from outside the financial sectors. From construction to software and retail to support services, the message is clear: 2008 is set to be a tough year for UK plc.
Ernst & Young’s Analysis of Profit Warnings is a quarterly report which helps our clients and our wider communities interpret the trends and developments signalled by profit warnings.
Corporate Governance
Corporate Governance
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Corporate Governance has become the shareholders’ mainstay. A means to help them rest assured that companies are managing their operations and risks in accordance with statute, regulation and best practice. Visit our UK Corporate Governance page and start to explore what we have to offer.
Budget News
Budget News website
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Visit our Budget News website for insight and expert comment for Ernst & Young news, information, expert analysis and insight on the Budget.