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Is the credit crunch seesaw moving?

The last few days have seen signs that the UK economy could possibly be bottoming out with news that the services sector is starting to strengthen. Even know the services sector has contracted over the last six months, the rate has reduced of late with many suggesting further improvement in the short to medium term. The chartered Institute of Purchasing and Supply reported an increase in activity with its index rising from 43.2 in February to 45.5 in March.

While it may be too soon to call sight of the "green shoots" of recovery there are hopes of further improvements amid signs that the credit crunch could be easy. It has always been known that the UK recovery would only begin once the credit crunch that slackened off and finance was made more available to the UK public and UK business arena. Slowly but surely, we are seeing signs of a loosening of the credit straitjacket and an increase in demand.

A number of economists are wary of calling the bottom of the UK market for fear of further problems in the short term which would make their predictions look foolish. However, there has been an increased support for the opinion that the recession could be bottoming out but we await further figures in the short to medium term.

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