AM Online

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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