Recession ‘will end within 3 months’

The UK recession will end within three months, according to a report issued by accountants BDO Stoy Hayward.

The accountancy firm believe that the prompt fiscal stimulus package and bank recapitalisation scheme taken in the UK have helped the economy speed ahead in the race towards recovery.

The BDO Output Index - which measures short-run turnover expectations and order book strength - recently saw largest monthly increase in 13 years, rising from 92.3 in June to 95.1 in July.

"The UK seems to be reaping the benefits of a raft of well-timed and calculated moves to stimulate the economy. In stark comparison, sluggishness and indecision has held the Eurozone back from a quicker recovery," said Alex White, Partner at BDO Stoy Hayward.