Friday, January 15, 2010
UK Officially no longer in Recession
The UK has officially moved out of the recession, according to the National Institute of Economic and Social Research.
The UK economy grew by 0.3% in the last quarter of 2009, preceded by a 0.2% fall in the third quarter.
Over the whole year, the economy contracted by 4.8%, the worst contraction of any single year for 90 years.
NIESR said that despite the improvement the recovery ahead will be slow and continue to be difficult.
DATED: 15.01.10
FEED: AM
