Economic figures raise hopes over recession

New figures regarding industrial production have given fresh hopes that the UK may be exiting recession in the near future.

This is according to Duncan Higgins of Caxton FX, who was commenting after statistics were published showing that growth in this area was 0.4 per cent in November 2009, compared to the 0.1 per cent contraction seen in the previous month.

’The encouraging industrial production figures appear to have offset the slightly disappointing data from the manufacturing sector.’ he remarked, referring to the fact that data showed manufacturing did not increase during the month.

Mr Higgins added that expectations that the UK economy economy has ’finally returned to growth’ are mounting, a comment that may be welcomed by private wealth managers.

Yesterday, the British Chambers of Commerce revealed in its latest economic survey that the UK is ’on the brink’ of leaving recession.

This is despite the fact that manufacturing figures were not as impressive as had been hoped.ADNFCR-2318-ID-19555389-ADNFCR