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Speaking at a recent press conference, Google chief executive Eric Schmidt has announced that the worst of the advertising recession has now passed, who judged the usage of the Google search engine to formulate this theory, and that the company will be hiring more staff in the near future and that they are increasing investment as the global economy begins to recover from the recession.

At the press conference in New York, Mr Schmidt stated that in his opinion “the worst is behind us“ if Google’s advertising business can be used as a reliable indicator of the state of the global economy. Aspects of this recovery have been witnessed on both sides of the Atlantic and the Google Chief expressed his surprise that the European market was also recovering faster than originally expected.

Mr Schmidt stated "We are clearly seeing aspects of recovery, and what is notable is that we're seeing aspects of recovery not just in the United States but in Europe. I had been in error in assuming that there would be a lag, that it would the U.S. first and Europe second. Asia, of course, was never significantly hit in the first place.”

"So that means from a Google perspective that...we never stopped hiring, but we told our team internally and again, we've said to many other people that we are increasing our hiring rate and our investment rate in anticipation of a recovery."

The New York press conference saw the Google execs answering queries about many aspects of the company's recent goings on and future plans, including the recent Gmail outages.

Google co-founder Sergey Brin was also present at the New York conference and explained that the company is working to improve its response time to such issues in the future, but also stated that Google's cloud-hosted email service is less prone to failure than those of some competitors.

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