NIESR: Britain already out of recession
9th September 2009
A leading think tank has given further indication that the UK has already emerged from the recession.
Gross domestic product (GDP) output rose by 0.2 per cent in the three months to August, according to estimates by the National Institute of Economic and Social Research (NIESR).
This follows declines of 0.3 per cent seen over the three months to July, reflecting the first time the three-month average has been higher since May 2008.
The research institute believes this reinforces the view that the recession is over, although it is noted that this should not be confused with a return to normal economic conditions.
A statement on the NIESR website suggests that the UK may well now go through a period of stagnation, with output rising in some months and falling in others.
Data published by the NIESR last month indicated that economic activity was picking up in advanced global economies, with its index suggesting that output is rising in more places than it is falling.