Tuesday, 26 January 2010

UK limps out of recession by 0.1 per cent

Link to the article: Channel 4 News

By Channel 4 News

As Britain's economy creeps back into growth - by the narrowest of margins - does the UK now face the possibility of a double-dip recession?

It is the day UK plc moved back into a period of growth; the much-awaited figures which tell us the worst is behind us and full recovery awaits. Except no-one is celebrating, least of all in Westminster.

The figures, released this morning by the Office of National Statistics (ONS), say it all. The economy expanded by a tiny 0.1 per cent in the last quarter of 2009.

It means the UK has barely crawled out of recession. The marginal growth between October and December did end a record six straight quarters of decline, but fell far short of the 0.4 per cent advance expected.

It is worth pointing out that the figure is only an estimate, and may be revised higher, but the result has been greeted with widespread disappointment.