Is the U.K Out of its Recession?

by Ben Cohen

A leading British think-tank certainly seems to think so (via the Guardian):

Britain may have emerged from its deep, year-long recession

over the summer, according to calculations by respected thinktank the

National Institute for Economic and Social Research, boosting hopes

that the worst of the credit crunch is over.

Official figures

released this morning showed manufacturing output rose strongly, by

0.9% last month, helped by car production resuming in factories that

had temporary shutdowns in the depths of the crisis.

Feeding this

news into its forecasting model, NIESR found that GDP is likely to have

increased by about 0.2% in the three months to August, the first

expansion since the spring. Provided there is no dramatic setback in

September, that would make the third quarter of 2009 the first to

record a rise in output since early last year.

Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.