The minister for common sense's comments came a day after the UK went into recession.
"I absolute believe that the economy has turned a corner and we're now pointing in the right direction."
The prime minister made growing the economy one of his five pledges to voters.
Traffic in strip bars across the US and UK is dwindling due to the cost-of-living crisis.
But, the Bank has just raised interest rates again, following a surprise increase in inflation last month.
The economy may not be in recession yet, but all eyes are still on the housing market.
The Bank has just raised interest rates again by 0.5%, to a total of 4% – but the recession will be milder than expected.
The IMF's forecast for the economy was pretty bleak – but don't give up hope yet.