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CBI reports increase in exports

The CBI has today issued a report which shows that UK businesses are on average seeing export orders up during the month of May. The survey shows that 3% more businesses in the UK are seeing export orders at "above normal" levels as oppose to "below normal" levels. This is the first time these two figures have crossed over since March 2008 and bodes well for the short-term prosperity of the UK economy.

Many analysts believe that initial signs of an economic upturn in the UK will come via the export route as the UK currency continues to struggle in international currency markets. However, only a few weeks ago it seemed as though UK imports were growing at a faster rate than UK exports which seemed to be very much at odds with the general consensus of opinion. Even though all economists believe that the UK economy is very much over the credit crunch and economic downturn, there are differing views and opinions as to how strong the recovery will be.

While it has to be said that recent surveys from the CBI, and other leading business bodies, are indicating a very definite pick up in business activity, the UK budget deficit and UK national debt are likely to reduce the rate of recovery at least in the short term.

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