Recession has ended, finance expert claims, while warning 'the situation is still dire'

Daily Mail
"‘We might now be at the bottom. We thought it was going to be July before this happened. However, it could be three years before we see output back at the level we saw in April 2008.‘There is a lot of pain to come. And there will be long-term scar on the economy because of the problems with the banking system.’Niesr cautioned that a slight upturn in economic output will not prevent further increases in unemployment, which stands at 2.22 million.Mr Barrell expects joblessness to continue rising for another year, as firms continue to axe workers to cut costs."