End of the recession?

By LBV

15 Mar 2010

The economic news and data we are receiving is mixed.

The financial crisis within the banking system looks to be behind us but we now have a new threat of the ability of sovereign states to deal with their debt.

Greece is only the first country to come under the microscope – Spain, Portugal and other EU countries are likely to follow.

January has seen a slow start to the year – the boost provided by the re-stocking required by operations looks to be losing steam and consumer demand is weak.

All in all is the recovery going to be v-shaped or w-shaped with another dip still to come?

This all leaves governments and central bankers with a difficult balancing act as regards the removal of government stimulus – take it away too soon and risk stagnation and further recession as happened in Japan in the 1990’s, remove it too late and risk inflation in the future.

Studies indicate that in the medium term too much government intervention and debt discourages growth. So it will be up to the private sector.

When it does rebound, unemployment will fall and budget deficits will decline.

Lancashire has always had a very strong manufacturing and business focus – we have always looked outwards and thrived on our trading base.

Despite what a cursory examination of the statistics appears to say, manufacturing in the region is still very strong. Many clerical jobs in manufacturing companies have been reclassified and in East Lancashire direct employment in manufacturing is 16% (against 11% nationally).

However, indications are that our economy lags behind the national average and on many socio-economic measures we are weak.

This may mean that we will be slower to come out of recession than other areas.

Despite all this, there are many impressive success stories.

The aerospace industry and its support network is second to none and there are many, many examples of highly innovative and high tech operations throughout the region in engineering, automotive, textiles, footwear, paper and wallcoverings, computers and chemicals.

Impressive growth in both the service and tourist sectors further enhances our prospects for success.

Tony Brierley, partner, PM+M Chartered Accountants.
 

Enjoyed this? Read more from LBV

Latest news

1

Taste Lancashire Producer Awards 2026 open for applications Taste Lancashire Producers awards

Taste Lancashire Producer Awards 2026 open for applications

15 Sep 2025

2

Stuart Buckley appointed head of sales and account management at Netcentrix Stuart Buckley

Stuart Buckley appointed head of sales and account management at Netcentrix

15 Sep 2025

3

Preston City Council pushes for fair pay Coun Valerie Wise

Preston City Council pushes for fair pay

15 Sep 2025

4

University of Lancashire increases state-of-the-art dentistry teaching facilities New dental facilities at University of Lancashire

University of Lancashire increases state-of-the-art dentistry teaching facilities

15 Sep 2025

5

VARS Technology team up with debt resolution specialists to fight fuel theft David Nichol John Garnett Aydan Jones and Laura Tilley

VARS Technology team up with debt resolution specialists to fight fuel theft

12 Sep 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
Sub36 Networking - Follow the signs
Sub36 Deaf Village Social1200
Networking
17 Sep 2025

Sub36 Networking - Follow the signs

The Deaf Village, Blackburn, BB2 5EN

10:00 - 12:00

LBV124 September/October Launch Event
MBP Arc Cinema Preston Opening 205
Networking
18 Sep 2025

LBV124 September/October Launch Event

The Arc Cinema, Preston, PR1 2BL

08:30 - 10:30

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

Preston Tech Connection - The Ultimate Tech Quiz!
Preston Tech Connection Sept 25.png.png
LBV Hub Networking
16 Sep 2025 - 16 Sep 2025

Preston Tech Connection - The Ultimate Tech Quiz!

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 19:00

The Business Network Central & East Lancashire
LBV Hub Networking
17 Sep 2025 - 17 Sep 2025

The Business Network Central & East Lancashire

Stanley House, Blackburn, BB2 7NP

11:30 - 14:15

Cumbria Business Expo 2025
https---cdn.evbuc.com-images-880461633-4862066883-1-original.20241022-110415.jpeg.jpg
LBV Hub Exhibitions
19 Sep 2025 - 19 Sep 2025

Cumbria Business Expo 2025

Carlisle Racecourse, Carlisle, CA2 4TS

09:00 - 15:00

Preston Freelancer Meet-Up: September
Sept Freelancer (1).png.png
LBV Hub Networking
23 Sep 2025 - 23 Sep 2025

Preston Freelancer Meet-Up: September

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Your Business, Your Region: Making sense of devolution and Local Government Reorganisation
Chorley Council breakfast event new
LBV Hub Networking
23 Sep 2025 - 23 Sep 2025

Your Business, Your Region: Making sense of devolution and Local Government Reorganisation

Worden Hall, Leyland, PR25 3DH

08:00 - 11:00

Speed Networking with BNI
2.png.png
LBV Hub Networking
24 Sep 2025 - 24 Sep 2025

Speed Networking with BNI

Chorley Football Club, Chorley, PR7 3DU

16:00 - 19:00

The Marketing Meetup IRL: Lancashire - September
TMM Lancashire
LBV Hub Networking
25 Sep 2025 - 25 Sep 2025

The Marketing Meetup IRL: Lancashire - September

Chorley, PR7 2SL

18:00 - 20:00

Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) drop-in day
MTD drop in session.jpg.jpg
LBV Hub Seminars
25 Sep 2025 - 25 Sep 2025

Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) drop-in day

Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) drop-in day, Blackburn, BB1 5QB

10:00 - 16:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV124 Online Graphic
Subscribe now

Weekly news bulletin