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According to David Kuo, head of personal finance at Fool.co.uk, individuals need to look at their finances and consider taking out some form of income protection. He also warned against acquiring any more debt and making big purchases.
"People need to think about living on two-thirds of their salary now because what it means is the next job you will get will probably pay less than you are earning at the moment," he commented.
The British Chambers of Commerce quarterly economic survey of almost 5,000 businesses has shown that many indicators in the manufacturing and service sectors have hit historically low levels.
If these trends persist, the business sector in the UK will technically be only be a quarter away from a recession.
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