UK finally (limps) out of recession

UK Quarter 4 GDP for 2009 came in + 0.1 %, below the forecast of + 0.4 % but signals that the UK has finally emerged from the recession- for now. The UK economy contracted 4.8 % in 2009 the biggest fall on record so a year to forget for the UK…

…economy and the pound. The data was much weaker than expected and the pound fell from a high of 1.6268 against the USD down to 1.61 following the data. A spokesman for the Prime Minister affirmed that we are right to be confident but cautious about the economy- I would say more cautious than confident. The concern now is that the UK could slip into a double dip recession if the tepid growth experienced cools as we move through 2010. Also this morning we have had released the German Info business climate index which came in better than expected at 95.8 against the forecasted 95.10- this has helped to keep the euro supported in the markets particularly against the USD. Crazy markets this morning, aside from the economic data there is lots of other factors in the mix...the S&P has revised their outlook for Japan to negative from stable; China has taken further steps to tighten its monetary conditions through the increase in reserve requirements for several banks as they move to achieve sustainable growth; In addition the market is awaiting further corporate earnings today and US consumer confidence. As a whole risk is off the table as European stocks are down, oil and gold is lower. report by Phil McHugh The contents of this report are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. Currencies Direct cannot be held responsible for any loss or damages arising from any action taken following consideration of this information. +44 (0) 1344 303 700 Sales@EagleTechnologies.co.uk http://www.EagleTechnologies.co.uk Join us on LinkedIn http://uk.linkedin.com/in/chrisrayner2008 To join The Community for ID Card Professionals, please click the link below and start benefiting from new contacts, ideas and general industry chat today. http://www.linkedin.com/groups?about=&gid=2618171&trk=anet_ug_grppro follow us on... http://www.twitter.com/Eagle_ID http://www.facebook.com/EagleTechnologies How To Find & Sell. "IDentify Your Target Market" http://idcards.posterous.com/how-to-find-and-sell-identify-your-target-mar Eagle Technologies End of Year Message from Chris Rayner (Managing Director) http://idcards.posterous.com/eagle-technologies-end-of-year-message-from-c Eagle Technologies Ltd is a world leading multi-brand desktop card printer product distributor providing all leading card printer and consumables brands, plastic cards, badge holders/lanyards, in/out of warranty repair solutions (including onsite services), card badging software, and a comprehensive bureau card personalisation and fulfillment offering. Eagle sells to resellers and adds value by providing a variety of products and services, including Plus-Ribbon (compatible with zebra, Datacard, Magicard and Fargo ID card printers), Plus-Clean & Plus-Card. Our mission is to grow the business of resellers by providing the services and tools which make them more efficient, effective and successful. Eagle customers have access to the industry's leading vendors, one of largest product inventories, and the broadest range of value-added services available. …offices in the UK, Europe & USA.

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