Offices in London can breath a small sigh of relief after the Centre for Economics and Business Research said that there is “starting to be some light at the end of the tunnel” for the financial crisis.
However, the group warned that businesses should still be aware that there is still a long way to go in terms of the economic downturn.
Economist, Charles Davis said that while banks are starting to come out of the financial crisis the economic fall out is far from over.
“What we are starting to see and I think what we will see increasingly especially going into the New Year, is some of the different strains that there have been in the money market perhaps starting to ease,” he said.
He added that this would be particularly prominent following the “government guarantees of debt” which “should help inter-bank lending especially”.
Nationwide’s Consumer Confidence Index which was published today shows that the public felt brighter for the first time since December 2007.