Monday, 15 June 2009

Sky News Business : ‘Is The Worst Of The Recession Over?’

"This is by no means scientific, but while walking home from a meeting in Guildford, I noticed something this morning that I haven't seen for quite a while.

Two estate agent boards pretty much next to each other with SOLD proudly splattered across them. They weren't the only ones, I spotted a further ten SOLD to just eight FOR SALE boards over the journey.

What does this mean? Could it be the knock on effects of the spring bounce in mortgage lending, up 16% in April compared to March - could it be an indication that those much sort after green shoots are actually flowering?

The Royal Institution of Chartered Surveyors have also reported recently that inquiries to buy homes has increased for the seventh month in a row - the fastest rate since 1999.

This sounds good doesn't it?

In addition, The National Institute of Economic and Social Research also had some encouraging news, that the UK economy grew in April and May, the first month on month climb since February 2008!

The pound has reached its highest level against the euro since the start of the year, boosted by these announcements, and the best news of all comes from the Met Office - temperatures in the UK are likely to warmer than average and rainfall should be below average over the Summer.

Its still tough out there, but aren't we all starting to feel a little more positive about things?

Can someone tell us all, is the worst of the recession over?"

Read the full feature on the Sky News website here