UK economic outlook

However, the UK economy left recession in the final quarter of 2009 and having originally been reported to have grown by a very disappointing 0.1%, this has recently been revised upwards to 0.3%. Although growth was revised upwards, the overall decline for the recession as a whole was increased from a 6% fall to 6.25%. The upwards revision to the growth figure was assisted by output in the service sector rising from -0.3% in the previous quarter to 0.5%. Industrial production also contributed as it rose by 0.45% in the fourth quarter compared to the 1% fall in the previous period. There ...