Recession in Britain 'at an end' - BBC

BettiePage

http://news.bbc.co.uk/1/hi/business/8217122.stm

Confidence among business professionals has surged, suggesting the recession is at an end, a survey has said.
The Institute of Chartered Accountants' index of business confidence rose to 4.8 at the end of June, from -28.2 in March, the biggest rise for two years.

However, chief executive Michael Izza warned against "underestimating" the challenges ahead for businesses.
The institute predicts the UK economy will grow by 0.5% in the third quarter.
Its forecast comes after the economy shrank by 0.8% in the second quarter of the year.
More than 1,000 chartered accountants were surveyed across England, Wales and Scotland.
"This quarter's Business Confidence Monitor suggests that the UK recession is at an end," said Mr Izza.

"While there is no doubt that the UK economy is on its way to recovery, we shouldn't underestimate the challenges ahead for businesses."
About 41% of senior professionals were more confident about their business prospects in the next year, but only 6% were much more confident, indicating that some caution remains.
IT was the most optimistic sector, followed by banking, finance and insurance. The institute said the banking sector in particular had shown "a remarkable upturn given the turmoil of the last two years".
The least confident professions were health and education, as fears of cuts in the public sector grow.

bendix

Recession? What recession?

I barely noticed it.

Graham_Devon

bendix wrote: »

Recession? What recession?

I barely noticed it.

The million who lost their jobs did.

HAMISH_MCTAVISH

bendix wrote: »

Recession? What recession?

I barely noticed it.

Me neither.

purch

The Institute of Chartered Accountants' index of business confidence

Who :eek: ??????????

lostinrates

bendix wrote: »

Recession? What recession?

I barely noticed it.

How many people did you say you made redundant at your firm?

Dan:_4

This is good news for everyone.

bendix

lostinrates wrote: »

How many people did you say you made redundant at your firm?

84.

And at last count, 82 are back in work 2-3 months later. Another has decided on a complete career change and is going to retrain as a doctor. The last is using his very generous retrenchment payment to set up a small tourism business in - of all places - Cambodia.

lostinrates

bendix wrote: »

84.

And at last count, 82 are back in work 2-3 months later. Another has decided on a complete career change and is going to retrain as a doctor. The last is using his very generous retrenchment payment to set up a small tourism business in - of all places - Cambodia.

Good for them: however, I would suggest all noticed the recession, as have many acroos the city, and indeed world. It is fair to accept that while your firm and other firms are not ''struggling'' (thankfully my DH's firm too) things have been ''noticed''.

Second income streams aren't bad either,

bendix

Graham_Devon wrote: »

The million who lost their jobs did.

Collateral damage. I can only speak for myself and tempting as it is to appear so very nice and shed crocodile tears for others, I can't bring myself to that level of hypocricy.

If those jobs lost were real and needed in today's modern economy, they would still exist. They don't. Ipso facto, they were non-jobs, unproductive and built up when businesses got fat and bloated during a bubble economy.

All very sad at a personal level, I'm sure, but that's the reality of modern economic life.

Jobs for life, my a**e. It's dog eat dog out there, and quite right too.

HAMISH_MCTAVISH

Dan: wrote: »

This is good news for everyone.

Well, everyone except those few miscreants wishing further misery on us all so they can bag a cheaper house.;)

But certainly good news for everyone else.:T