The recession is over - papers

The UK's surprising resilience is confirmed by the National Institute of Economic and Social Research (NIESR), an independent body with an enviable record for accuracy, writes The Independent. It says the economy hit rock bottom in as early as March and returned to growth, albeit modestly, in April and May. The institute says that the economy grew by about 0.2% in April and by 0.1% last month. Although hardly a return to the boom conditions that prevailed before the credit crunch, these figures mark the end of more than a year of stagnation and recession, and stand in stark contrast to ...