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Defaqto: Exporting 'can end recession'
Thursday, 08 January 2009
Life after graduation
The UK must pull itself out of recession by increasing the volume of goods exported to the continent and further afield, according to independent financial data collection firm Defaqto.
With the downturn affecting other areas such as the housing market and graduate jobs sector, solutions to the nation's economic troubles may be widely sought after.
Economist Michael Baxter says that the low value of the pound against the euro could lead to inflation in imported goods prices, but this could also be beneficial for firms selling abroad.
"It's a fine balancing act; the UK needs a cheaper pound in order to be able to export its way forward but doesn't want the pound to be too cheap because of inflation," he added.
In other news of interest to graduates living on a budget, SW19 founder Luke Bennett claimed last month that it may be cheaper to buy a home than rent in 2009.
He suggested that falling interest rates were likely to lead to a raft of improved mortgage deals over the last 12 months, as the housing market seeks to attract more first-time buyers.