UK Finally Exits Recession in Q4

Well hooray!!! The UK economy has finally been shown to have emerged from the worst recession it has seen since World War II.

According to data just released from the Office for National Statistics, UK Gross Domestic Product grew by 0.1% on a quarterly basis in the fourth quarter.

"Distribution, hotels and restaurants was the largest contributor to the positive growth this quarter. Government and other services and total production also had significant contributions to the increase. This was partially offset by a small decrease in business services and finance. Construction and transport, storage and communication were flat over the quarter," the report said.

With this 4th quarter exit from recession, Britain is 6 months behinds its European rivals Germany and France, both of which exited the recession in the second quarter with growth of 0.3% each.

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