Press information: Car finance figures backs up fears of double dip recession
Fears that the UK is experiencing a double dip recession have been backed up by the latest data from long established, nationwide, internet car finance broker www.carfinance247.co.uk.With the economy shrinking by 0.4% in the last quarter of 2011 (compared with an estimate of 0.3%)* and the newspapers full of worrying economic statistics**, UK consumers are spending less on cars. “Whether this is because they simply have less money to spend or they are pre-empting another downturn and are cutting back, is unclear” says Louis Rix, Director of carfinance247.co.uk. The data highlights