Britain finally exits recession, but only just
Filed under: Financial Crisis
Britain finally emerged from recession at the end of last year, but only just. It ended with a whimper, not a bang.The economy only managed growth of 0.1% in the fourth quarter, disappointing all those who had hoped for a decisive return to growth. The number took City economists by surprise who had forecast 0.4%.
It was the longest recession in Britain's history, lasting a year and a half, and now it is officially over. Britain is the last of the major economies to come out of recession.
But this doesn't mean it's plain sailing from now on. Recovery is going to take years and no one is ruling out a double dip where the economy tips back into recession after a few months of lacklustre growth.
