Thanks to the efforts of Central Banks and Governments around the world in the form of massive interest rate cuts, quantitative easing and huge fiscal stimulus packages economic activity has finally pulled out of the nosedive that it spiralled into.

There has been a significant pick-up in global purchasing managers’ indices as companies start to replenish their depleted stocks.  There has also been a rise in business and consumer confidence.  Credit markets are beginning to thaw and there is evidence of a return to banking profitability along with stabilisation in house prices on both sides of the Atlantic. (more…)

By Daniel Pimlott, Economics Reporter, FT.com

Published: July 7 2009

The worst of the recession is over, but it is too early to say that a recovery is under way, according to a survey published on Tuesday.

The manufacturing and services sectors declined at a much slower pace in the second quarter of the year, but they both still remain in the grip of the downturn, according to a British Chambers of Commerce report that strikes a notably more downbeat note than many other recent business surveys. (more…)