UK economy shows signs of steadying amid pause in interest rate rises
by Richard Partington, Mark Sweney and Hilary Osborne from Economics | The Guardian on (#6GTEK)
Modest fall in mortgage costs and rising manufacturer confidence fuel hopes that UK is turning the corner'
The UK economy is showing signs of beginning to stabilise from the economic slowdown triggered by soaring inflation and ever-higher interest rates, amid hopes that a peak in borrowing costs has been reached.
Figures on the housing market and manufacturing on Friday showed steadying levels of activity, amid a modest decline in mortgage costs for households and rising confidence among industrial firms.
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