0.1% growth is the first chink of light for UK in two years
Published 27/01/2010 | 14:38
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.