The UK has exited recession, offical figures have shown.
But the CBI has warned that a full recovery for the UK economy is unlikely until 2012.
Ahead of the GDP figures released today, which revealed that in the final quarter of 2009 the UK economy grew by just 0.1% , far less than economists had predicted – CBI director-general Richard Lambert last night warned that it would take years for the economy to get back to where it was before the recession.
Lambert called on politicians to commit to restoring macroeconomic stability as soon as possible in order to encourage growth, Reuters reported.
He said: “Without growth, unemployment will not fall back to its pre-crisis levels, and the life chances of a generation of young people will be seriously impaired.”
The UK emerged today from the longest recession in 80 years, but the economy grew by only 0.1% between October and December – far below expectations of a 0.4% rebound, the Times reported.