10 reasons to be cheerful about the economy

Times remain tough but light is starting to pierce the gloom, write Angela Monaghan and Edmund Conway.

The weaker pound

The devaluation of the pound could help to drag Britain out of recession by increasing the country's competitiveness. It makes UK exports more attractive to foreign buyers because they are cheaper, and therefore helps to drive increased production in Britain's factories, which in turn requires more work and higher employment levels. To have any meaningful impact on UK gross domestic product, demand from its key export markets will have to rise significantly from current levels. The US is among them, so evidence that the recession there is bottoming out is good news for the UK.

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http://www.telegraph.co.uk/finance/financetopics/finance-predictions-2009/5297492/10-reasons-to-be-cheerful-about-the-economy.html