We were promised years of doom and gloom – the worst recession in living memory: something like the Great Depression. However Chris Dillow writing for Investors Chronicle asks the question is the Recession Over?

Now, this is only a possibility. There are tons of things that could be wrong with my assumptions; maybe the PMIs overstate activity by more than I’ve assumed, or maybe industrial output and retail sales will fall back in May and June; and even if GDP grows in Q2 it mightn’t continue to do so.

We should, though, prepare ourselves for the chance that the recession has already ended. This would mean that the UK has emerged from the downturn sooner than the US or euro zone. Which I find truly astonishing. And I’m not alone in this. Chris Dillow, Investors Chronicle.

If Dillow’s correct – will a recovery save Gordon’s bacon? It’s about the only thing that could.

Hat Tip: A Blog from the Back Room.