Hard times for companies
Hard times for companies
UK companies should brace themselves for "a bumpy recovery", despite a fall in the number of profit warnings in the final quarter of 2009, a report says.
Accountancy company Ernst and Young says only 50 companies issued profit warnings in the fourth quarter, the lowest level in six years. The firm said the economy had picked up quicker than expected but "2010 is when we start paying [for the recovery]".
Figures due out Tuesday are expected to show Britain has exited recession. Experts predict the data will show the UK economy grew at about 0.4% in the three months to December 2009
In January of last year the UK entered recession for the first time since 1991, after experiencing two consecutive quarters of negative economic growth. It is one of the last major economies still in recession, with the French and German economies exiting recession last summer. Read more...
Categories: uk Recession Tags: companies, hard times, recovery
housing market 2010
2010 housing market recovery ?
The begining of 2010 has seen some improvement in the uk housing market. People's confidence seems to have returned to pre uk recession levels.
Recent figures show that around 81% of people expect house prices to rise during the coming six months, predicting average house prices to increases 5.4%, according to property website Zoopla.co.uk.
Categories: uk Recession Tags: 2010, housing market, recovery, uk Recession
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.
Categories: uk Recession Tags: pace slowing, recovery, worst over