Industrial growth rises for first time in over a year

15th June 2009

The UK experienced its first growth in industrial output for more than a year in April, according to official figures released by the National Institute for Economic and Social Research (NIESR).

The economy grew by 0.1% in May and 0.2% in April after contracting 0.5% in March. The NIESR also reported that the output of the UK economy has fallen by 5% between the beginning of the recession in May 2008 and March this year.

Martin Weale, director of NIESR said that the recession had ended "as far as I can tell." He added, "There has been much less downward momentum than we expected."
 

Source: Newbusiness.co.uk