Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

6 of 6
BACKNEXT
United Kingdom: Signs of life
United Kingdom: Signs of life
GDP: -0.7%
Inflation: 1.6%
Unemployment: 7.9%
Markets: 32.6%
Interest rate: 0.5%

The United Kingdom hasn't officially emerged from the recession, but the country has shown signs that it is starting to break away from its slump.

Great Britain's services sector grew in August at the fastest pace in almost two years. Factory output has started to rebound after massive declines throughout the downturn. And the latest business and consumer confidence surveys showed slight improvement.

Economists also say Britain has avoided the threat of massive deflation by keeping the printing presses on around the clock. The Bank of England has printed $290 billion in an attempt to jumpstart the economy.

As a result, Mervyn King, the governor of the Bank of England, told Parliament this week that the recession may soon be over.

Still, Prime Minister Gordon Brown has said that he plans to continue the nation's stimulus efforts at least through next year. That may be necessary, given last month's unemployment figures jumped to their highest levels since 1995.

NEXT
Last updated September 24 2009: 11:03 AM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
Source: IMF, national statistics offices, central banks, FTSE 100
More Galleries
World's Top Employers for New Grads For an exclusive CNNMoney list, research firm Universum Global surveyed business students at colleges around the world to see where they most want to work. More
Brexit voices: In or out? CNNMoney speaks to British people to find out their views ahead of the referendum on EU membership. More
10 key facts about the U.S. economy Unemployment is down, gas is cheap and America is growing. But just how strong is it? More

Special Offer