January 26, 2010

UK posts 0.1% growth in Q4

The worst recession since the World War II finally seems to be getting over. Official statistics of Britain have confirmed on Tuesday that the economic slowdown in finally melting away as the country recorded a minimal though significant 0.1 per cent growth in the fourth quarter.

The economy however still remains vulnerable.

Though the experts and analysts had expected the Office for National Statistics to report growth of at least 0.3 per cent, in any case this has been the first growth rate recorded in last 18 months.

The increase in the country’s output is reportedly due to the increase in distribution, hotels and restaurants and government and other services. Other production and manufacturing industries, along with the services sector, suffering the major slump, saw a 0.1 per cent rise in output.

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Filed under News by Purnima.
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