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One recent survey suggested manufacturers enjoyed a recovery in output and new orders last month.
"This is the slowest recovery in output on record," he said.
"The UK economy has continued to bump along the bottom, but a gradual recovery in output may now be in prospect.
However, the recent spurt in productivity has been unusually strong, given that the recovery in output has been modest by historical standards.
Information received since the Federal Open Market Committee met in June indicates that the pace of recovery in output and employment has slowed in recent months.
Before the recovery in output that began in May, output by the construction sector was 22% below its 2008 level and private housebuilding was 38% below the previous high.
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Better to describe cycles in terms of a recession, in which output falls well below trend, a recovery, in which output returns to trend, and then an expansion, in which the economy grows more or less at trend.
Reconstruction demand and a recovery in industrial output are likely to buoy the economy, said Cameron Umetsu, senior economist for Japan at UBS. "But the murky global backdrop still holds the potential to serve up nasty surprises for export-sensitive Japan," he said.
In the previous two British recessions, the first three years of recovery produced increases in output per head of over 8%.
To be sure, some analysts say it is by no means sure that the strong recoveries in economic output and share prices will continue for long.
The recoveries from the last three U.S. recessions (1991, 2001, 2007 09) have been jobless, meaning that employment was slow to rebound despite recovery in total economic output.
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