Figures today to reveal UK’s exit from recession

The long-awaited quarter four GDP figures are to be released at 09:30 today with the hopes that the UK has finally emerged from its worst recession in several decades.

The UK economy, which has now contracted for six consecutive quarters, has been lagging behind other major economies but it is hoped that the economy exited recession in the fourth quarter.

Signs of recovery have led economists to forecast that the Office for National Statistics will announce that GDP grew by 0.4% in the fourth quarter of 2009.

Howard Archer, chief UK economist at IHS Global Insight, said: “I would be astounded if the UK did not grow in the fourth quarter of 2009.”

However, while analysts are hopeful of an end to the recession, there are concerns over the economic recovery. Leading business groups are warning of a possible “double-dip recession” this year.

Public borrowing is currently at a record high and according to Colin Ellis, an economist at Daiwa Capital Markets Europe, reducing this deficit is a big challenge.

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