Bank of England’s Andrew Sentance, in a speech to businessmen inAberdeen, has opined that Britain’s economy is on track to return to growth later this year or early in 2010 given promising signs that the global recession is bottoming out.
However Britain faces significant challenges to a strong recovery, including lack of bank credit, the need for manufacturing to drive growth and future volatility on the world’s financial markets.
I feel the official is right to strike a cautious note. Personally feel all this talk of recession having ended a few months ago might prove a little premature.
Meanwhile cable has given ground, presently at 1.6385.
