Signs of a Slowdown in Britain

Still struggling with the effects of the U.S. subprime crisis on the British economy, the government scales back growth forecasts

Is this the proverbial other shoe dropping? Already reeling from the global credit crunch in the financial markets and the country's first bank run since the 1860s at mortgage lender Northern Rock (NRK.L), Britain is now exhibiting worrisome signs of broader economic distress. Aside from the impact on domestic jobs and income, a slowdown in one of Europe's largest and fastest-growing economies would send ripples across the rest of the Continent.

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