Britain's economy officially out of recession

Figures out on Tuesday 26 January 2010 have shown Britain's economy is officially out of recession.

The UK's longest-ever recession is over, official figures have shown.

The Office of National Statistics figures from the country's Gross Domestic Product (GDP) show the economy grew by 0.1% in the last three months of 2009.

The numbers out on Tuesday 26 January 2010 follow six months of contraction in the economy.

Stewart Case, corporate services director at Preston-based accountants Moore and Smalley, said that despite the rise from recession, the recovery is likely to be "long and fragile."

He said: "Business confidence is going to be tested throughout the year, particularly as the Government withdraws support that has helped businesses through the recession, such as the Time to Pay scheme that allowed businesses to defer some tax payments.

We also have to expect Government spending cuts following the General Election to put strain on the recovery.

"The essential point is that it's going to take many months to get back to full health and, in the meantime, businesses have to stay positive and work hard to ensure they have clear and robust plans for managing growth and dealing with any setbacks."