The recession will end 'in next few months'

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The recession will end 'in next few months'

The recession will draw to a close within the next few months, it has been claimed.

International financial research company Defaqto has said that the evidence is there to suggest that the UK will pull out of the recession in the foreseeable future.

Michael Baxter, an economist with the firm who made the comments, pointed towards recent data from the Chartered Institute of Purchasing and Supply (CIPS) which showed that the manufacturing sector is starting to see improvements.

"I think the CIPS report is another bit of evidence of [the recession ending]. So, given all of that I think it would be a bit of a mistake to do more of that quantitative easing," he explained.

The CIPS data showed that the manufacturing sector has experienced a rise in activity, from 47.4 index points in June to 50.8 points in July. It also revealed that although job losses continued, the rate of decline is slowing.

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