Mortgages -
Recession fears playing on investors' minds - 20/03/2008
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Overall confidence in the economy is on the slide, a survey from the Association of Investment Companies (AIC) has revealed.
More than one third of investors believe that a recession is the biggest current threat to general financial well-being in the UK, the latest confidence index from the body shows.
Moreover, one in five members of the public also count an economic downturn - made more likely by the credit crunch - as their biggest fear.
Accordingly, just under one third of people are saving more and spending less in order to prepare for recession.
Annabel Brodie-Smith, communications director at the AIC, said: "The credit crunch and recent market volatility have created a trying time for investors and it has led to a fall in investor confidence.
"The biggest financial fear for all investors is a recession and the UK's love affair with property is coming to an end - it's not surprising active investors are backing resources at a time when oil prices are at record levels."
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