UK economy grew by 0.3% in last quarter of 2009, according to revised figures

01 March 2010 In Financial Careers

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UK economy grew by 0.3% in last quarter of 2009, according to revised figures Revised figures for the growth rate of gross domestic product (GDP) have provided hope for the UK's emergence from recession.

Official figures for GDP growth for the last quarter of 2009 have been revised from 0.1 per cent to 0.3 per cent.

Strong data during December was one of the factors behind the amendment to the figures. Manufacturing and output figures during the same month were also influential.

The preliminary estimate of growth in the service sector was also revised from 0.1 per cent up to 0.5 per cent as a result of a 0.6 per cent growth being shown by the Index of Services for December when compared to the previous month.

However, despite the revised figures David Kern, chief economist at the British Chambers of Commerce still fears a double-dip recession could follow.

"The UK recovery remains weak, and risks of a setback to growth later in the year are still serious," he told the Press Association.

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