Market shows signs of a return to form
Posted on February 8th 2010
January has produced a number of positive results that strengthen the prospect of a quick rebound out of recession. Manufacturing across the globe picked up at significant speed, especially in the UK as the weak pound helped exporters to produce the biggest surge in 15 years. The weak pound is a by-product of a weak economy but what is theoretically a negative indicator has boosted the manufacturing sector. Michael O’Leary summed it up pretty well in saying, ‘It’s great because it’s awful’. He certainly sees a silver lining in the clouds.
Whilst December’s lending figures aren’t even comparable to pre-crunch levels there was a time when the market was predicting a negative £25bn net lending figure for 2009, instead we achieved a net increase of £13bn, so we certainly ended 2009 in better shape than we entered. The same is true at Exact, we have been helping banks manage their exposure to UK mortgages and we have seen a significant up tick in orders in the last couple of months and as a result of this, and planned expansion, we are busily recruiting people to deal with the workload.
Businesses that have a competitive advantage should do well in a market that is starting to look like it is coming out of the doldrums. I am no economist but my fear of a double dip is starting to ease slightly and hopes for 2010 being a start of a return to form for the mortgage market are increasing.
