The UK economy grew by 0.3% in the last quarter of 2009 that was faster as compared to the 0.1% growth forecasted. The initial estimate released during the last month claimed that the UK economy had grown by 0.1% in the last quarter of 2009, indicating the fact that it had emerged from recession.

As the economy is now believed to be at lower level after the recession, the growth rate has been revised up.

However, prior to the aforementioned quarter the UK economy contracted for six quarters in a row - the longest period since quarterly figures were first recorded in 1955. The better than expected growth in the economy clearly signifies that the economy has recovered from the recession but analysts are of a view that the economy may contract again in the current quarter. In fact, the weak January data and bad weather is adding fuel to the analysts' point of view.

Followed by Europe's two largest economies - Germany and France that recovered last summer before U. S. and Japan, the UK economy is the last major economy to sail out of the recession. The downturn began as back as in the April-June quarter in 2008 and has been the largest downturn that the economy has faced till date.