As per estimates of the National Institute of Economic and Social Research (NIESR), the UK economy has emerged from recession.

The U.K.’s principal economics think-tank released buoyant ballpark figures illustrating that growth in GDP recommenced in April and May.

Signs of life from manufacturing and services firms also boosted hopes of economy’s recovery. Technical recession, as per report estimates, should be over in the 3rd Quarter or possibly even the 2nd Quarter.

But, Kate Barker, an external member of the Bank of Britain’s Monetary Policy Committee, is not sure enough if the recovery would be sustainable.

According to David Page, Investec economist, the years ahead would be loaded with difficulties for consumers, because of already piled up debts.

Notwithstanding such doubts, the institute’s findings will further pat the back financial heard for taking quick measures for revival of the economy.

Optimism in the economy will add force to manufacturing industry, which recorded better-than-expected growth of 0.2 per cent in April.

(via TopNews. Contributed by Harish Dhawan)