Recession – the long haul out beckons?

Following news that both France and Germany have staggered out of recession, the mood has caught hold in London too.

Whilst the Ashes win may have prompted a mood of euphoria, there is the odd sign that the green shoots for which so many have been searching, are not just spots of mildew on the rusting padlock on some former factory’s gate.

It is important to remember that life will never be the same again, for which some may say: Thank goodness”.

The Institute of Chartered Accountants', not a gathering noted for its irrational bursts of euphoria, index of business confidence rose to 4.8 at the end of June, from -28.2 in March, the biggest rise for two years.

With the big Asian economies looking brighter too, and the UK economy not showing the inflationary leanings that quantative easing – that is printing money to you and me – encourages maybe the sun is coming for UK SMEs.

But let’s enjoy it for now. It is far too soon to reach for the shades and sun blocker yet.