According to recent figures published by the Office of National Statistics (ONS), the UK economy has climbed out of recession.
The figures revealed that in the final quarter of 2012:
- GDP has increased by 1%
- The output of services industries has increased by 1.3%
- Construction sector output has decreased by 2.5%
In response to the release of these figures, Chancellor George Osborne announced “There is still a long way to go but these figures show we’re on the right track and are a sign the economy is healing.”