David Miles believes worst is over

Speaking to the Western Mail newspaper, Morgan Stanley’s chief UK economist said: “The worst of the recession may well be behind us. I’m less pessimistic than many of where the economy may be going.”

He said that he believes that the tax cuts as well as lower interest rates have contributed to the signs that the economy may already have started a recovery: “…history teaches us that a combination of tax cuts, running large fiscal deficits, substantial cuts in interest rates and more quantitative easing is likely, with a certain time lag, to have a substantial impact on demand in the economy.”

Let us know if you have seen signs of a tentative recovery by emailing me at [email protected]