Many Britons believe the end of the recession may be in sight, the results of a new survey have shown.

Findings from uSwitch.com understand that 13 per cent of consumers believe it will be over by the end of the year, while an additional 12 per cent think the end will come in March next year.

"Consumers really need to be aware of the financial legacy a recession leaves, long after a return to positive growth," noted Louise Bond, personal finance expert at uSwitch.com.

She also believes that people are "committing to changing their financial behaviour for the better", despite the economic doom and gloom they face at the moment.

However, of those questioned by the website, 55 per cent could not correctly identify what technically defines a recession and 43 per cent are unaware of which signs would indicate the restoration of positive growth.

According to another study by Friends Provident, a generational divide has emerged in response to the recession, with younger Brits demonstrating a more positive outlook than their parents.