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0.1% growth is the first chink of light for UK in two years


Published 27/01/2010

The 0.1% growth for the final quarter of 2009 is the first expansion for the beleaguered UK economy since the opening three months of 2008.

  • The recession lasted for six quarters in a row — the longest since records began more than 60 years ago.
  • The 4.8% decline for the economy for the 2009 calendar year is also an official record.
  • The slump has cost 6% of the nation's economic output so far — on a par with the early 1980s.
  • Unemployment rose by 877,000 from April 2008 to hit 2.49 million in the three months to October 2009.
  • To combat recession, the Bank of England slashed interest rates to just 0.5% in March last year — the lowest since the Bank was founded in 1694.
  • The recession saw a 12-month slump for manufacturers, with output down almost 14% year-on-year at its worst point.

Belfast Telegraph

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