U.K. Economy Out Of Recession

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The British economy expanded only 0.1% sequentially in the fourth quarter of 2009, following the prior quarter's 0.2% contraction, the Office for National Statistics said Tuesday. Economists were expecting an increase of 0.4%. The fourth quarter growth follows six quarters of contraction.

The increase in output was mainly due to increases in distribution, hotels and restaurants and government and other services. Output of service and production industries edged up 0.1% each.

Year-on-year, gross domestic product was down 3.2%, while the consensus forecast was for 3% decline in the fourth quarter.

The British economy expanded only 0.1% sequentially in the fourth quarter of 2009, following the prior quarter's 0.2% contraction, the Office for National Statistics said Tuesday. (Market News Provided by RTTNews)