UK confidence up, recession 'at end'
Source: Agencies |
August 25, 2009, Tuesday
|
Print Edition
Print Edition
BRITISH business confidence rose in the May-August period to its highest level in two years, an industry group reported yesterday, indicating that the economy could soon start growing again.
The business community was largely more optimistic than not for the first time since May-August 2007 - before the global financial crisis erupted and Britain fell into recession - according to a report by the Institute of Chartered Accountants in England and Wales.
The institute said the turnaround was the most dramatic jump since its survey was introduced in 2003.
The finding "suggests that the UK recession is at an end," the institute's Chief Executive Michael Izza said in a statement.
The business community was largely more optimistic than not for the first time since May-August 2007 - before the global financial crisis erupted and Britain fell into recession - according to a report by the Institute of Chartered Accountants in England and Wales.
The institute said the turnaround was the most dramatic jump since its survey was introduced in 2003.
The finding "suggests that the UK recession is at an end," the institute's Chief Executive Michael Izza said in a statement.
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