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How long will it take for the UK economy to recover?

The last few days have seen an increase in the number of sectors struggling to survive and companies making direct appeals to the UK government for state aid. We have seen the banks continue to struggle, retailers overtaken by their online rivals, the construction industry literally falling to its knees and even the once "safe" PFI sector has had to be bailed out by the UK authorities. So how long will it take for the UK economy to recover?

While there is no doubt that the key to any recovery in the UK economy lies with the financial sector, there are concerns that even if finance becomes more available in the weeks and months ahead that many companies and sectors will take years to recover. There have been substantial closures in the retail sector, as well as the building sector and many of the non-mainstream financial companies look set to struggle for some time to come.

As the UK government prepares to issue a new tranche of rescue funding for UK plc there are serious concerns that the lower the UK economy goes the longer the time span for any potential recovery. There are concerns that while the economy is currently in a recession this could turn into a depression which could literally take decades to work through. Life is tough at the moment in the UK, and other leading economies around the world, but 2009 could be the toughest year yet.

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