End of Recession for UK Economy

Written by Becky on Tuesday 26 January 2010

GPD Growth Shows End of UK Recession

Figures released by the Office for National Statistics today showed that the economy had grown by 0.1% in the last three months of 2009, marking the end of the UK recession.

Figures show the Gross Domestic Product (GPD) increased 0.1% in the fourth quarter of 2009, compared with a decrease of 0.2% in the third quarter.

Growth in the economy had previously decreased for six consecutive quarters, the longest period since quarterly figures were first recorded in 1955.

Unemployment slows

Although economic growth is slow, other recent recovery signs are emerging as last week’s unemployment figures fell for the first time in 18 months.

The UK has been one of the last major economies to come out of the recession since the recession began in the April - June quarter of 2008.

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