BOE Posen: Business Contacts Suggest There Is A Recovery

–But Recovery Is Patchy; Not Huge Bustling, Booming Recovery

LONDON (MNI) – Bank of England Monetary Policy Committee member
Adam Posen says that business soundings he has taken this week in the
West Midlands region of the U.K. suggest that an economic recovery is
ongoing but patchy.

“The assessment I’m getting from the businesses I speak to is
largely in line with my personal take and the overall MPC take which is
that we are having a recovery but it is not a huge bustling, booming
recovery and it’s, as they say on the morning weather reports, patchy,”
Posen said in comments to the Midlands Business Insider.

Posen said his contacts there had been “quite interesting and very
encouraging”.

He added: “They really seem to have responded in export terms to a
previous decline in the pound.”

–London newsroom: 4420 7634 1624; email: ukeditorial@marketnews.com

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