Worst of the Recession May End
Tuesday, May 12, 2009 14:02
After influential organisations and investors announced that there were clear signs of economic recovery, hopes are mouting that the worst of the recession is over.
The organisation for Economic Co-operation and Development said there were indications that UK was experiencing a pause in the economic slowdown. There are signs that the worst of the global recession may be over.
The multibillionaire investor George Soros echoed the positive forecast, indicating that a meltdown of the world’s financial system had been averted. President of the European Central Bank—Jean-Claude Trichet, said that some countries had already moved beyond the worst of their recessions.
Activity in the UK housing market has also picked up. Eastate agents said that there were more nquireis last month from the new buyers, who were tempted out by the low prices and good weather. The up beat mood was also evident on the high street, where like-for-like sales jumped by 4.6% in April. At the same time, Chinese central bankers also indicated that their efforts to boost economic growth were working.
More tentative signs of economic recovery are expected to be revealed soon.
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