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Business FX Blog

Adam Solomon is a specialist in business foreign exchange issues at foreign exchange brokers TORfx.

The idea of this column is to assist businesses in saving money on making or receiving payments in foreign currency. It is developed with all companies in mind from public companies with large and complex operations, to smaller companies and individuals.

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Home Economic Fundamentals UK Economic Hard signs of recovery

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Hard signs of recovery PDF Print E-mail
UK Economic
Written by Gary Howes   
Tuesday, 30 June 2009 09:59
UK Economic News: Economy News picks out the three fundamental indicators that show things are getting better.

1) FSB: small business recovering


Small firms experiencing a tentative recovery, FSB statistics reveal.
 
Small businesses which were hit hard by the worst of the credit crunch and the recession nearly a year ago are starting to experience a tentative recovery, according to analysis by the Federation of Small Businesses (FSB) which has documented the economic downturn’s impact on small firms since last September.
 
A comparison of FSB data collected over the past ten months suggests that the economic position small businesses are in is starting to improve since a low point at the end of last year.
 
A rising number of small businesses are now experiencing an increase in trade, with the latest poll showing 23 per cent of FSB members noticing a rise compared with 16 per cent in February.

2) Sterling signals global confidence


Growing hopes of a global recovery prompted investors to shift funds to higher-yielding assets from the safe-haven US currency, the sterling as always is a winner in this scenario.

As a result this morning sees the sterling reach an 8 month high. Sterling rose as high as $1.6715 GBP=D4, its strongest since late October, according to Reuters data.

3) Nationwide housing data


This is the third month out of four that Nationwide has recorded increases in housing prices.

House price rose 0.9% in June.

The average house price across the UK is now £156,442 which is now 9.3% lower than a year ago, but the three month on three month rate of change, a good indicator of the short-term price trend, turned positive for the first time since December 2007 to stand at 0.9%, up from -0.4% in May.

Housing is where the crisis started and influential economists and analysts say this is where the crisis will end.