New Data Raise Fears on British Economy
Home prices in Britain fall for the third consecutive month and heavy discounts could constrain retailers' holiday haul
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Fresh signs of a slowdown in Britain's economy emerged this weekend, as new data revealed that house prices fell for the third consecutive month in December, while the British Retail Consortium warned that heavy discounting on the high street may have made for a much less merry Christmas than retailers had been hoping for.
According to new figures from the housing analyst Hometrack, released today, the price of the average home in the UK was down by 0.3 per cent during December, the worst decline in a single month since January 2005.