Britain eyes green shoots in struggling economy
Britain's battered economy is witnessing "green shoots" of recovery after a deep recession, but they could remain fragile for some time as the jobless toll continues to rise, analysts warn.
Major economies including Britain, the eurozone, Japan and the United States were dragged into recession last year as a result of the global financial crisis and the credit crunch, leaving many people facing a bleak winter.
But as the summer warms up shopkeepers and businessmen are reporting signs that customers have money in their pockets again, while banks are lending more, helping to steer the housing market out of a steep slump.
Mexican food chain Chilango has bucked the downturn, launching its first restaurant in Islington, north London, in 2007 amid the eruption of the global financial crisis. It opened a second outlet on Fleet Street last October.
"My gut feeling is that the recession's not going to get worse than where we are now -- it may stay at the point we are at -- but it will only get better from this point," Chilango founder Eric Partaker told AFP.
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