_{Tuesday 26th January 2010}

The UK has officially emerged from recession as figures show that the economy grew 0.1% in the last quarter of 2009.

This is the first quarter that the UK has shown growth after contracting for the previous six quarters which is the longest sustained decline since quarterly figures were first introduced since 1955. The services and manufacturing sectors were the industries that helped the UK economy record growth.

The UK was one of the world’s major economies still in recession with Germany and France emerging from the downturn last summer and Japan and the US also exiting last year. Positive signs were in place signalling the end to the UK’s worst recession since the Great Depression with unemployment figures showing a fall in joblessness for the first time in 18 months.

Analysts are predicting that the economy will record further growth and are speculating as to when the Bank of England will start to wind down the stimulus programme put in place. For the time being interest rates will remain at 0.5% until it is proved that the economy can sustain its growth.

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