Recession recovery was a 'close call'

Date: 28th January 2010

The fact that the UK only just managed to exit recession in the last quarter of 2009 is "quite worrying".

This is the view if Investment and Business News editor Michael Baxter, who said the 0.1 growth, reported by the Office for National Statistics (ONS), was a "close call".

However, Mr Baxter explained that the ONS has been known to publish revised figures at a later date and said these may well show that the recovery was stronger than first thought.

The narrow growth came as a surprise to many economic commentators, who had predicted growth of around 0.4 per cent, and has sparked concern that the country may enter a 'double dip' recession.

Mr Baxter explained that a boost in UK manufacturing should maintain growth but expressed concern that this has yet to happen.

"I'm sure with the pound so cheap sooner or later exports will kick in, but it is taking a long time." He said.

"The pound has been cheap for quite a while now and the widely expected pick up in exports hasn't happened so far which is quite worrying."