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How safe is the ongoing recovery in the UK economy?

There is no doubt that the last few weeks have been dominated by more positive reports being released regarding the UK economy, and the potential recovery in 2009, which could follow on into 2010. The property market is showing signs of life, the CBI has suggested finance is more available than at any time over the last few months and it would appear (from some reports) that the UK economy is recovering as those in Europe and the US continue to struggle. However, how strong and how stable is the UK economic recovery?

As we have mentioned on numerous occasions, one of the major factors which needs to be considered is confidence in the economy and in particular in the employment market. These are the catalyst for recoveries in the property market, business arena and bank finance but so far, while there have been tentative signs of recovery, we have seen this all before over the last 18 months. It will not be one specific event or report which will prompt a strong recovery in the UK economy, more of a gradual increase as more and more reports hopefully turn positive.

Despite politicians indicating a strong recovery is already in place in the UK, many believe the ongoing recovery is actually rather tentative and fairly weak. It would not take a massive disappointment, whether in economy or for example the banking sector, to wipe away the confidence which has begun to build over the last few months. This is very much an early-stage recovery in the UK economy and one which needs to be treated with care and nurtured.

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