“Fragile” return to Growth on the cards for UK

London stock markets are reacting to the latest positive economic data from the UK.  This morning the FTSE 100 gained over 1 per cent after markets in Asia also showed strong gains.

Business confidence is up with IT the strongest sector, followed by finance and finally property.  It is believed that the British economy will grow in the third quarter after a much smaller decline in the second.  Later today, a report by the Institute of Chartered Accountants fro England & Wales is expected to show the recovery for Britain.  However, chief executive Michael Izza warns that while they are confident of a recovery, it will not be plain sailing.  “…the recovery is very fragile,” he said. 

Last week, US Federal Reserve chief Ben Bernanke gave a positive talk on the state of the economy there.  All in all, it seems as though a gradual return to growth is on the cards for most developed nations.

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