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Recession is at an end, says leading economics thinktank
NIESR says that industrial output has risen for two consecutive months, having hit a nadir in March
One of Britain's leading economic thinktanks has called an end to the recession after industrial output showed its first rise in more than a year in April.
The National Institute for Economic and Social Research said March this year was the trough of the downturn that began in the summer of 2008.
NIESR said that output had risen in both April and May after a tough first three months of the year that saw the economy contract by 1.9%. If sustained in June, the second quarter of 2009 would show the first increase in gross domestic product since the first three months of 2008.
"The monthly figures are inevitably erratic but the picture is coherent with the broader picture of stabilisation which has emerged since we first suggested that the output had stopped falling in our GDP release on 13 May", the NIESR said.
Earlier, figures from the Office for National Statistics (ONS) showed a 0.3% increase in production after a run of falls that began in March 2008.
NIESR says that industrial output has risen for two consecutive months, having hit a nadir in March
One of Britain's leading economic thinktanks has called an end to the recession after industrial output showed its first rise in more than a year in April.
The National Institute for Economic and Social Research said March this year was the trough of the downturn that began in the summer of 2008.
NIESR said that output had risen in both April and May after a tough first three months of the year that saw the economy contract by 1.9%. If sustained in June, the second quarter of 2009 would show the first increase in gross domestic product since the first three months of 2008.
"The monthly figures are inevitably erratic but the picture is coherent with the broader picture of stabilisation which has emerged since we first suggested that the output had stopped falling in our GDP release on 13 May", the NIESR said.
Earlier, figures from the Office for National Statistics (ONS) showed a 0.3% increase in production after a run of falls that began in March 2008.
Recent data has suggested, however, that companies have run down stocks of goods and now need to increase output to meet demand.
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