Worst Of UK Recession Could Be Over
Pace slowing
The pace of the UK recession is set to slow in the second quarter, according to a business trends report out today.
The worst of the uk recession could now be over.
Britain has a better chance of quicker recovery than other eurozone economies where deflationary expectations are taking hold, according to BDO Stoy Hayward, a professional services firm.
It reported modest growth in an "optimism" index measuring medium-term business confidence, which rose from 89.9 in January to 91.2 in April. It also reported that deflationary expectations in Britain had receded.
Peter Hemington, partner at the group, explains: 'Despite being greeted with scepticism, quantitative easing looks to have paid off so far for the Bank of England.'
He also says that the European Central Bank needs to make 'bold decisions' to reduce the threat of deflation.
Recently, the Confederation of British Industry claimed there are 'tentative signs' that the worst of the recession is over, although recovery is not expected until the spring of 2010.
