Despite all the messages of doom and gloom the British Chambers of Commerce reckons the UK won't slide back into recession this year.
Solid improvements in the overseas exports markets appears to be standing the country in good stead, but it also issued a warning shot across the boughs. The group claims the government still isn't doing enough to get banks lending to small & medium-sized business. More lending is needed to boost growth and counter-attack the depressed public sector, which is being dragged down due to the swingeing spending cuts.
British Chambers of Commerce - which represents around 20% of the private workforce - put out its forecast for how the economy's grown in the first quarter of this year, saying it could be up by as much as 0.3%. On the flip-side though it reckons the spending cuts are going to beat down economic performance in general.