The UK economy grew by 0.1% in the three months to December 2009, signalling the end of the longest recession since the 1950s, according to preliminary statistics.

According to the latest data from the Office of National Statistics: “The chained volume measure of gross domestic product (GDP) increased 0.1% in the fourth quarter of 2009.”

This is the first quarterly rise in GDP for 18 months – the longest period of continued contraction since quarterly figures were introduced in 1955.

Perhaps unsurprisingly in the run-up to Christmas, “Distribution, hotels and restaurants was the largest contributor to the positive growth this quarter. Government and other services and total production also had significant contributions to the increase. This was partially offset by a small decrease in business services and finance.

“Construction growth was flat compared with an increase of 1.9 per cent in the previous quarter. Construction decreased 4.9% between 2009 Q4 and 2008 Q4.”

“Transport, storage and communication growth was flat compared with an increase of 0.7% in the previous quarter. The most significant positive contribution was from post and telecommunications. This was offset by a significant negative contribution from transport support. Transport, storage and communication decreased 4.1% between 2009 Q4 and 2008 Q4.”

Despite large bonuses for banking staff, “Business services and finance decreased 4.8% between 2009 Q4 and 2008 Q4.”

However, the numbers are preliminary and based on just 40% of available information, so figures could be revised up or down when the final figures are published.

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