Wednesday 18 January 2017

Finally some good news -- but recovery hasn't happened yet

Published 04/10/2012 | 17:00

IT sounds pretty good. The vital services sector growing healthily and hiring extra staff for the first time since March; the Live Register at the lowest level in more than two years.

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The services survey follows Monday's finding that manufacturing is also expanding and that conditions improved for the seventh month in a row.

It is certainly better than the opposite. Yesterday's data are the latest of several to show an economy which has stopped crashing; often described as "bumping along the bottom". The next stage is recovery -- but that has not happened yet.

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