UK comes out of recession

The UK economy has come out of recession in the last quarter of 2009……just!

Having contracted for six consecutive quarters, the longest period since recrods began in 1955, a weak 0.1% growth for the final quarter of 2009 (Oct-Dec) closed out a year where overall the country’s GDP contracted by 4.8%.

With unemployment falling for the first time in 18 months, the UK is the last major economy to come out of recession. Europe’s two biggest economies – Germany and France – came out of recession last northern summer with Japan and the US also emerging from recession last year.