Readers Question: At the time of the Economic collapse 2007/ 2008 or near the end of that period in 2010 the Labour administration had actually started to pull out of recession – True or False?
The recovery began towards the end of 2009 (Q4). Q2 growth in 2010 was quite high at 1% (annualised 4%) After the election of May, economic growth petered out towards the end of 2010 and was very weak and patchy in 2011/12.
Source: ONS NPEN
Total UK Business investment fell sharply in 2008-10, but recovered from 2010 Q1.
Unemployment continued to rise until 2011, but unemployment is usually a lagging factor. In fact, unemployment rose at a smaller rate than previous recessions.
See further reading – Great Recession of 2008-13