Estimates show UK out of recession
Recent estimates of the UK’s gross domestic product show that the besieged nation may have finally emerged from its recession.
According to the National Institute of Economic and Social Research, there was 0.3 percent rise in GDP in the December quarter. This follows a rise of 0.2 percent in the three months to November 2009.
“In the past, early signals that the economy was out of recession have been an illusion, but this upturn is more pronounced and we hope more durable,” said Institute director Martin Weale.
However, the Institute’s estimates will need confirmation from official government figures later this month.
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