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UK 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.

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