Is the recession over? We won't know for sure for another few weeks.
But business confidence in the manufacturing and engineering sector jumped in that last three months, as a business confidence survey carried out by the Institute of Chartered Accountants indicates that the recession may be over.
The Institute's index of business confidence turned positive at the end of June. In March it was -28.2.
There is also a prediction that the UK economy will grow by 0.5% in the third quarter.
Compare this with the 0.8% decline in Q2.
The Manufacturing & Engineering sector Confidence Index improved by 30.4 points, the largest quarterly rise on record, to take confidence to its highest since Q1 2008.
However, confidence in the sector remains slightly negative.
Inventory levels remain low with more than a quarter of firms in the manufacturing, construction and transport sectors report stock levels below normal, suggesting growth could be round the corner as the inventory cycle turns.
There are also signs that consumer confidence is edging up.
The IT sector came in as the most confident, according to the data.
"This quarter's BCM suggests that the UK recession is at an end," said Michael Izza, chief executive of the Institurte of Charterted Accountants.
"While there is no doubt that the UK economy is on its way to recovery, we shouldn't underestimate the challenges ahead for businesses," said Izza.
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