'UK to pull out of recession' - commercial mortgages

06 August 2009

The signs are clear that the UK is set to pull out of recession in the coming months, it has been suggested.

According to Michael Baxter, economist at financial data research firm Defaqto, recent Chartered Institute of Purchasing and Supply (CIPS) findings back this sentiment up.

The CIPS/Markit Purchasing Managers' Index for manufacturing, published this week, posted a 50.8 reading in July - the first time the index has risen above 50 since March 2008, which signals growth.

"Reports from CIPS have been pretty clear for quite some time so it is a mistake to ignore these reports," Mr Baxter stated, before adding that its track record "is quite impressive" when it comes to predicting the direction of the economy.

With a potential upturn in the economic situation in the UK, more business may soon look to start growing again, which may increase the need for financial products such as commercial mortgages.

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