LESS than six months ago, the UK economy looked confident that it was on its way to recovery. However, after a wave of growth jitters and a steep correction of near 40 per cent in the Chinese equity markets, the road to recovery appears to be in question.

Individual economies have become increasingly interlinked, with coupling of global markets developing into the norm rather than the exception. The worries in China are bound to create ripples internationally.

Beyond outward looking concerns, the UK economy also has to contend with its own struggles. Recent economic numbers are not shaping up quite as intended. Industrial production in July fell unexpectedly, declining 0.4 per cent as compared with the forecast increase of 0.1 per cent. UK exports have been hit hard as well, plummeting to the lowest in five years since September 2010.