Talk of green shoots 'exaggerated'

Talk of green shoots in the UK economy have been exaggerated, according to one expert who has suggested 'boom conditions' will not be seen for several years.

According to Michael Baxter, an economist with Defaqto, people have let some recent positive news about the economy "run away with itself".

"I am not saying we are going to have another recession but we are not going to have a boom like we had a few years ago, I don't think that is going to happen for quite some time," he added.

However, Mr Baxter stated that when the data for quarter three is released it is likely that the UK will have moved out of official recession.

A recent study by specialist insurer Hiscox highlighted that small businesses are feeling increasingly optimistic about the coming months, with over half of those questioned predicting they will survive the downturn.

It was also found that just nine per cent have chosen to make any redundancies.

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