• Immediate Working Capital
  • Growth, Aquisitions, MBOs
  • No Need for Re-negotiation
  • Instant Cash Flow
  • Saves Management Time
  • Improved Collections Performance
  • Recession-Proof Thinking
  • Practical How To Guides
  • Business Knowledge Bank
  • Fast Track Response
  • Competitive Rates
  • Personal Service
Britain Over the Worst of the Recession?
Date Added: Wed May 20 2009
The worst of the recession may now be over, according to the Organisation for Economic Cooperation and Development (OECD).

Releasing its monthly "composite leading indicator" (CLI) for the world's major economies, the Paris-based watchdog pointed to "tentative" signs of a slower pace of decline in the UK, even though the world economy as a whole remained in deep recession.

There have been signs in Britain over the past month that some parts of the economy are getting worse at a slower pace than before, raising hopes that the 1.9% contraction in the economy in the first quarter may mark the worst point of the recession.

However, the Bank of England and other major banks think the economy remains in a precarious state with bank lending still almost frozen. And although mortgage approvals and buyers' enquiries for properties have picked up, prices continue to fall rapidly.