New figures today show the UK is no longer in recession. The economy grew by 0.6% between January and March this year.
A recession is where the economy is negative for 2 lots of 3 month periods (so 2 quarters of a year). This is measured by GDP (gross domestic product), which is a measure of the country’s economy.
The economy has increased this year due to more people spending money, which includes shopping and public transport.
The economy growing is a positive sign, but there’s still a very long way to go to improve people’s financial lives. Jeremy Hunt, the Chancellor, said the figures show the economy is 'returning to full health'.
