Posted 2/19/2024, 7:08:00 AM
UK recession fears grow as China tourism rebounds but foreign investment plunges
- Former BoE chief economist Andy Haldane warns Bank risks worsening UK recession unless it cuts interest rates soon
- China's Lunar New Year tourism revenues surged 47% year-on-year, exceeding pre-pandemic levels
- But foreign direct investment into China dropped 81.7% in 2022 to lowest since early 1990s
- UK asking prices rose 0.9% or £3,091 in February to £362,839 as property market picks up momentum
- Number of new listings and buyer enquiries both up 7%, with agreed sales 16% higher than last year