It has been revealed that the average UK home is now putting aside 5.6% of monthly income for savings, against just 1.7% at this time last year. While on the surface this is obviously a very positive move, it does appear that many are saving for the future because they are unsure about job security, future income and the cost of living. On the plus side, the amount of debt being taken on by UK consumers has fallen markedly over the last few months which is obviously a move in the right direction if we are to rectify the current situation regarding national debt and consumer debt....

The rate of contraction of the UK economy in the three months from April to June has been reduced again.

Gross domestic product (GDP) has been revised to a fall of 0.6% compared with the last quarter, up from the previous estimate of 0.7%.

The figures were revised upwards last month, from a 0.8% decline, according to the Office for National Statistics.

Many other countries, including Germany and Japan, emerged from recession in the second quarter......