The “green shoots” of a UK economic recovery have finally made their long-awaited appearance. Although there is still a very long road ahead, with the full impact of previous interest rate rises yet to be felt due to the existence of time lags, the economy’s growth rate of 0.6pc in the first quarter of the year is highly encouraging. It means that the UK economy is no longer in recession. And with inflation having fallen from 8.7pc to 2.3pc in the past year, the prospect of interest rate cuts is firmly on the near-term horizon. They should have a positive impact on GDP growth, once time lags have passed, and provide improved operating conditions for a wide range of UK-focused companies. For example, wealth management firm Brooks Macdonald’s financial performance is highly dependent on the fees it generates from funds under management that ebb and flow with changes in asset prices. It stands to benefit from a stronger economy that prompts improved trading conditions across a wide range of industries. They should lead to a rising stock market and greater fee income for the firm. A looser monetary policy that positively catalyses the stock market is also likely to prompt...