U.K.: Out of Recession, Not Out of Trouble

According to preliminary estimates released by the Office for National Statistics on Jan. 26, the United Kingdom finally exited recession in the fourth quarter of 2009, ending six consecutive quarters of contraction. The showing was generally underwhelming as the United Kingdom's gross domestic product in the fourth quarter of 2009 grew at an annualized rate of just 0.1 percent over the previous three-month period. This tepid performance speaks to the depth of the British recession and the hard road ahead for the nation's growth, employment and debt reduction.