House sale fall hits economy
A slump in home sales this year is set to take a damaging toll on the wider economy as the credit crunch bites, the Royal Institution of Chartered Surveyors (RICS) warned today.
Housing sales could fall at least 40% this year as would-be buyers struggle to gain mortgage deals from more cautious lenders, according to RICS' latest housing forecasts.
And the drastic fall-off in deals could hit consumer spending by more than 8% compared with last year.

Confidence in business drops
Business confidence has fallen for the fourth quarter in a row as fears of an economic slowdown loom, a survey said.
The latest index of confidence among almost 1,000 chartered accountants at UK firms declined steeply in the three months to the end of April, the Institute of Chartered Accountants in England and Wales (ICAEW) said. ICAEW chief Michael Izza said: "This no longer just an issue in London."

New horizons for pub group
Embattled pub group Mitchells & Butlers is considering switching to a more tax efficient business structure as it seeks to get the firm back on track, it was reported today.
It is thought the All Bar One and Harvester owner will outline plans to look at adopting Real Estate Investment Trust status tomorrow as part of a revival strategy due to be unveiled.

People are spending less
Nearly half of people are changing their spending habits to tackle soaring inflation and the impact of the credit crunch, a survey showed today.
Households are feeling the squeeze from dearer petrol, food and gas and electricity bills as mortgage costs also rise – with official inflation hitting 3% in April. And 44% of people shop around.

Pools prosper
Tougher economic times have not dampened the appetite for football pools, the owner of the Littlewoods, Vernons and Zetters pools brands said today.
Liverpool-based gaming firm Sportech said trading in 2008 had "started well''.

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