U.K. Economy Exits Recession
Tuesday, January 26, 2010 : PermalinkWSJ – The U.K. economy crept back to growth in the fourth quarter of 2009, narrowly emerging from a deep recession that began in the second quarter of 2008.
However, growth in the latest quarter was far less than expected, heightening fears that the economy hasn’t moved decisively out of a long recessionary period.
The Office for National Statistics said Tuesday that gross domestic product in the three months to Dec. 31 increased 0.1% compared with the third quarter. Compared with a year earlier, GDP fell 3.2%.
Economists surveyed by Dow Jones Newswires last week forecast that GDP would rise 0.4% on a quarter-to-quarter basis and drop by 2.9% from the year-earlier period.
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