27 November 2014 | travelweekly.co.uk business Essential news, comment and analysis TOP STORY


Louise Cooper: ‘Consumer confidence has not really improved for the last six months’


WATERS AHEAD FOR UK ECONOMY


ROUGH


ECONOMIC EXPERT LOUISE COOPER SPELLS OUT THE FACTORS THAT


COULD STALL THE


UK’S RECOVERY TO DELEGATES AT THIS


WEEK’S TRAVOLUTION SUMMIT. REPORT BY LEE HAYHURST


Political uncertainty in the UK, rising inflation and a slowdown in Europe are all economic headwinds for the UK, the eighth Travolution Summit heard this week. Louise Cooper, a chartered financial analyst and economic commentator, gave an upbeat assessment of how the UK has been recovering from the recession to date but warned: “There are possibly some rough waters ahead. “I think politically we are in a bit of a mess ahead of the general


80 • travelweekly.co.uk — 27 November 2014


election next year. It’s shaping up to be the most interesting election we have had for decades.” Cooper dismissed the view that


the recovery has been built on consumer spending, saying credit card debt levels are rising at a fifth of the pace seen during the credit boom of the 2000s.


And she said the UK economy had been steadily improving since early 2013 when gross domestic product passed the 2008 low point. Bank of England data showed that business investment,


trade and housing have joined household consumption in fuelling a broad and sustainable recovery, said Cooper. But improving consumer confidence has levelled off in recent months amid signs of a slowdown and problems in Europe. She added the UK faces a


threat from weak exports, hampered by a strong sterling, and “appalling” economic data from Germany that is fuelling concerns


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