The UK economy has come out of recession, after figures showed the economy had grown by 0.1% in the last three months of 2009.
The economy had previously contracted for six consecutive quarters – the longest period since quarterly figures were first recorded in 1955.
There have been recent recovery signs – last week UK unemployment fell for the first time in 18 months.
The UK’s had been one of the last major economies still in recession.
Europe’s two biggest economies – Germany and France – came out of recession last summer. Japan and the US also exited recession last year.
The UK recession began in the April-to-June quarter of 2008.
During 18 months of recession, public borrowing increased to an estimated £178bn, while output slumped by 6%.
First estimates of how the economy has performed are made with about 40% of the data available, and Investec economist David Page has warned there is “plenty of room for surprises” in the figures.
sourced from the BBC
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