THE recession in Britain is officially over following a storming start to the year, according to experts.
Figures show that output at the end of April was ‘incredibly close’ to the pre-crisis level of 2008.
And experts believe that before May is two weeks old, the country’s economic output will have ‘breached the pre-recession peak’.
Research group Markit suggested British firms are hiring 100,000 new staff a month.
“Growth seems to have become entrenched in the UK,” said Jack Meaning, an economist at the National Institute of Economic and Social Research.
“The outlook is pretty robust.”
The National Institute predicts growth of 2.9% for this year and 2.4% for the following year.
Unemployment is also expected to improve, with a predicted drop to 6.3% this year and 6% by 2016.