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
13 hottest tech gifts under $100 Some of the hottest products of the year cost well under $100, from gaming consoles and VR headsets to drones. More
14 gifts gamers would actually want Whether you're shopping for a Pokémon GO fan or someone who owns every console ever made, we've got holiday shopping recommendations to suit everyone from beginners to the most discerning gamer. More
14 coolest toys for the holiday season Our list of must-have toys includes a self-hatching interactive pet, a coding toy for toddlers and a high-tech Barbie Dreamhouse. More

Special Offer