UK economy inches it’s way out of recession

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UK Gross Domestic Product Growth
UK Gross Domestic Product Growth
Britain is officially out of recession, latest figures released today show that the economy grew 0.1% in October to December 2009. Great news, but frankly the country is a long way out of the woods as it was expected to be 0.4% growth.

In reality many businesses are way down on their turnover from a year ago, some by as much as 10% or more and the end of recession is by no means a guarantee that more companies won’t fold or downsize their staff.

However it should be good news for online merchants, according to the Office for National Statistics motor trades and retail contributed most to the increase. Economic doom and gloom isn’t the best way to loosen the purse strings and get consumers buying, so now that the recession is over we can look forward to better financial news keeping them spending.

So how did the recession affect your business? Did you continue to grow sales over the last year or have revenues fallen? If you have an off line business as well as online how did the two compare?

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