The economic consensus in the UK is that although things have stopped getting worse, they are not getting better in a hurry. Recovery in the UK is likely to be weak, and we may well take a while (years) to build GDP growth back to near its trend rate. The London stock market is currently taking a more optimistic view with two weeks of consistent gains, but will it last?
A good friend is a wholesale supplier of guitar strings to trade customers. He almost gave up in the Spring-time, having had his worse quarter ever: over 70% down, as his trade clients let their stock levels fall. This last month has good strong sales again. Is this the beginning of a return to normal life? Let us hope so. Of course, it could just be that all those unemployed bankers now have time to practice that perfect riff time and new guitar strings. My money is still on a slow recovery, but I am listening for the sounds of Purple Haze...