The recession could be over in Britain by August, 2009

Dear readers,

According to the Daily Mail news paper, the international experts said yesterday that the recession may be over in Britain by August. The influential Organisation for Economic Cooperation and Development said output was still shrinking but there were clear signs of recovery.

Its predictions were backed up by a range of figures on the economy.
Surveyors reported signs of strong recovery in the housing market, while retailers said consumer spending picked up last month.

A big increase in the number of people wanting to buy a home has raised hopes Britain may be on its way out of recession.

A quick recovery would fly in the face of gloomy forecasts by the International Monetary Fund only a few months ago.

It said Britain was likely to suffer the deepest recession of any leading economy - although it has since said that other countries are likely to fare even worse.

The details are at:

Daily Mail, Tuesday, May 12, 2009- Page 2