Page 6: Conclusion
According to the Office for National Statistics, the UK came out of recession in the fourth quarter of 2009. However, recovery is slow and could be bumpy.
The Bank of England has indicated that it could be 2011 before the UK economy will be back at the point it was before the recession started. Some commentators are also worried that recovery may take place too quickly as this could cause inflation. Preventing inflation could lead to a second downturn in the business cycle.
Recovery is a delicate phase for the UK economy. It is a time of optimism but it is also a time for caution. As recovery moves forward, building societies will be able to assess the best ways of providing for the interests of their members.