The UK has officially exited technical recession, according to new figures released this morning.
The latest economic survey from the Office for National Statistics shows that the economy grew by 0.1 per cent in the final quarter of 2009. Analysts are generally disappointed in the announcement, having expected to see growth of around 0.6 per cent.
The figures also show that the economy shrank by a total of 4.8 per cent over the course of 2009. Contraction had been seen for six consecutive quarters - representing the longest period of recession since records of quarterly figures began in 1955.
Despite growth having officially returned, analysts are concerned about the strength any any recover. ONS figures are frequently revised - and it is perfectly possible that the latest survey could be revised down, placing the UK back in recession.
While official growth figures have little impact on the day-to-day lives of businesses or consumers, the weak nature of the latest announcement is a stark illustration of the continuing fragility of the UK's economic situation.
