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Confidence is the key to recovery in the UK economy

While the UK government tries to talk up the UK economy, banks attempt to gloss over rising bad debts and surveyors suggest that UK property prices are on the rise, the truth is that until we see a definitive return of confidence to the consumer and investor markets the UK economy is going nowhere. Confidence is the key to any recovery in the UK property market and the UK economy as a whole and unfortunately there is little sign of a marked increase as yet.

For those who do not understand the impact which confidence can have on a sector and an economy, just take a look back at the decline of the worldwide economy which began when investors lost confidence in the mortgage sector in America and began to bailout. When the sector turned many investors ran for the hills and those who decided to ride the storm have been effectively "thrown to the wolves".

It is also noticeable that the decline in consumer confidence in UK led directly to pressure on the retail sector and the UK high street which ultimately saw the demise of many well-known names. Once the confidence factor in any company, sector or economy has gone it is very difficult to turn around in a short space of time.

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