When will we see an upturn in the UK economy?
This is a question which is being mentioned more and more by both consumers and economists around the world. The UK is in the midst of possibly the worst recession for over 50 years and the real concern is that the market has not yet bottomed out. With some experts suggesting substantial further downside there is real concern that the UK could move into a depression in 2009 and beyond.
The last great recession of the 1930s saw the US economy wounded for many years, millions of jobs lost, companies going under and consumer spending collapse. While many have suggested that due to more recent economic policies and tighter control over all elements of fiscal and monetary policy we would never see a depression like the 1930s again. However, many of these experts are now scratching their heads and having difficulty coming up with ideas to refloat the likes of the UK economy where debts have ballooned and consumer confidence continues to fall.
In reality nobody knows the future direction of the UK economy and it could take one specific action or event to spark a recovery, although there is little sign of this happening just now.
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