Well as we all know yesterday it was announced that the UK was officially out of the recession. So it is good news or should there be more concern after figures which were below expectations? With the last six quarters previously contracting, the longest period since records were first produced in 1955, we finally seen growth of 0.1%. With the UK being the last major economy in recession, and with Europe’s largest economies officially out of recession last summer, should we be worried?
With the UK just “crossing the line” in coming out of recession, there is concern that the 0.1% growth needed to be more significant, as reductions in VAT and the car scrappage scheme have been government initiatives which have helped us to finally see some growth. But once the short term tools are taken away, and the figure being as low as it is, should we be concerned, or more positive that this is the springboard into the UK economy’s recovery. Whichever it is we all know that the it will still be a bumpy ride over the next 12 months and for many businesses a cautious one too.