I’m told that corporate spending is holding up OK.
One of the brightest people I know, Julian Hanson-Smith at Iceni, tells me that news from the US says that Q4 might be fairly stable in the US this year. ‘The RFPs are coming out again in force,’ he says.
So, things, with a bit of lag, might be getting back to growth by early 2010 in the UK.
Elsewhere, I hear that UK serviced offices are getting enquiries from builders who are setting up project teams to start on infrastructure projects financed by the quantitative easing of the government pushing ahead with spending their way out of this recession.
Personally, I still feel that the ‘L’ shape graph is most likely… with a long flat bottom extending into 2011.