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Most Brits Believe Credit Crunch Will Soon Be History!

by Tanya Thomas on September 2, 2009 at 8:07 AM
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 Most Brits Believe Credit Crunch Will Soon Be History!

The ever bright and cheerful Brits strongly believe that the ongoing credit crunch will soon be history. Let's just hope they're right!

According to a poll conducted by the Daily Telegraph/YouGov, with a growing number of people now feeling the worst of the recession has passed, the country appears to be regaining its "feel-good factor".

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The findings have indicated that the measure of people's confidence in the future remains negative, at minus 14.

But it is much better than what it was 12 months ago - a miserable minus 67 - thus making the people in UK all smiles.

The researchers worked out the measure of confidence by asking respondents whether they believed their prospects were looking good, and would remain the same or grow worse in the coming 12 months.
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They then calculated the feel-good factor by subtracting the percentage of those who thought their situation would worsen from the percentage who thought it would get better.

While this feel-good factor was minus 20, in June, it has risen by six more points since then.

Meanwhile, the most recent Business Confidence Monitor by the Institute of Chartered Accountants in England and Wales showed confidence among business professionals had moved into positive territory for the first time in two years.

This was interpreted as further evidence of an improving UK economy.

Source: ANI
TAN
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