Recession now over: official

The recession that has blighted the country’s economy for nearly nine months is now officially over according to results of a recent poll.

The poll, carried out by the Institute of Chartered Accountants in England and Wales (ICAEW) shows the confidence level rising dramatically from -28.2 units to +4.8. The confidence graph shows a healthy upward trend which means the UK’s economy should move out of recession by the end of this month.

“The group’s third quarter survey suggests that the UK recession is at an end,” says ICAEW spokesman Peter Ian. “When you look at the chart it shows a massive rise and that can only mean good times ahead. The line went down towards the end of last year but it flattened out by around April and has now gone back up again. The measure of confidence amongst the 20 members of the public surveyed using our questionnaire is markedly higher now than that of the 17 people questioned last November. Everyone here at the ICAEW is buzzing.”

Officially, the country remains in recession after government data showed its economy shrank by 0.8 percent in the second quarter — marking the fifth quarterly contraction in a row. The graph of hope, however, disputes this and shows a rise of 34 according to the ICAEW survey. “The trend is definitely up.”, maintains Mr. Ian “You can tell by the gradient of the line on the graph. It even shows higher on the bar chart too. Put it this way, when you have an overwhelming amount of data showing such results they can’t not be true.”

The second official estimate of gross domestic product in the second quarter is due out on Friday.


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