Mixed Opinion on UK Recession Recovery

The British Chambers of Commerce has made a statement that has echoed elements of doubt about how well the UK is bouncing back from recovery from the financial crisis that has gripped the nation for the past year. In fact, according to the BCC, the UK economy is far from bouncing and is more near to limping as they have described business confidence as ‘frail’. David Kern, the chief economist of the BCC believes that these results show that the UK economy is edging to the brink of leaving recession.

There statements can definitely be described as cautious as the BCC figures do show marked improvement. The study results come from a survey of more than 5,500 UK companies and does show that confidence is returning. A comparison in the study shows that the strongest level of increased confidence is within manufacturing industries. The biggest improvements have been within the service sector and manufacturing but although what is described as ‘good progress’ has been made, orders are still down domestically.

This is encouraging news and with positive figures from BRC that have shown that the retail market in the UK has actually risen from September 2008 by 2.8%, their is cause for hope. The figures that were released by the British Retail Consortium are positive, but that does not stop them edging their bets regarding optimism and caution readers not to get carried away with this improvement.

After all the doom and gloom regarding the state of the nations wealth, I think this is a positive step in the right direction. It is all very well to be cautious, but how about a little optimism here guys!

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Source: news.bbc.co.uk

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