The British economy has officially emerged from its worst-ever recession, according to the latest financial results.
The figures, released by the Office of National Statistics (ONS) on Tuesday (26/01), show that the economy grew by 0.1 per cent in the last quarter of 2009, which was a weaker-than-expected growth, but enough to bring the UK out of the recession.
Britain is the last major world economy to exit the recession; France and Germany recovered in the summer, while Japan and the US also emerged from the recession last year.
There had been signs that the economic recovery was on its way, most notably the recent announcement that unemployment figures had fallen for the first time since the recession began in the second quarter of 2008.
However, these initial figures are merely an estimate, made with only around 40 per cent of the data available, and financial experts have warned that official figures in March could look quite different.
Gary Jennison, chief executive of Secure Trust Bank, said: We deal with ordinary people who live in the real world, and our customers are telling us that it doesnt feel like were out of the recession.
The threat of increased unemployment is still too great for people to feel good about the future.
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Secure Trust Bank was founded in 1952 and has established itself as a successful business that thousands of people continue to benefit from everyday. Secure Trust Bank is part of Arbuthnot Banking Group PLC, a pioneering force in banking since 1833, listed on the London Stock Exchange’s Alternative Investment Market (AIM).
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