11 June 2009

UK Recession Over According to NIESR

According to respected independent research body NIESR (the Institute of Economic and Social Research), the recession is over for the United Kingdom.

So far, NIESR's reports have been known for their accurate predictions and data analysis, but can they really be on the right track this time? After all, when the Chancellor released the last Budget report, and talked of a return to growth by the end of the year, many rubbished his claims. Could it be true, months early?

The foreign exchange market is seeing a return to risk appetites - a sign for return to health - and the US dollar is continuing to weaken against high-yield currencies, another good sign.

But perhaps one should stay steady and wait a bit before becoming complacent?

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