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Recession 'looks to be over'

13 January 2010

Those facing debt management issues may be encouraged by new evidence that the recession is over.

Figures from the Office for National Statistics revealed that between October and November, industrial output rose by 0.4 per cent.

Such a figure would suggest that the economy is starting to grow again, unless other sectors continue shrinking.

However, the year to November 2009 still saw an overall decline in manufacturing output of six per cent.

Should the data herald the end of the recession, it could improve the prospects for those dealing with debt management problems, as a lower fear of unemployment could make lenders more willing to offer attractive products that could consolidate existing borrowing.

The industrial output situation is being helped by the impact of the weak pound on exports, according to senior analyst at foreign exchange firm Caxton FX Duncan Higgins.

He said the continuation of this "should lead to stronger production readings for December".

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