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Lex: UK economy

Break out the champagne: after an 18-month slump, the UK is now technically out of recession. But only just. The last big economy to limp out of the downturn did so at a slug-like 0.1 per cent pace. Expectations had been for a 0.4 per cent expansion in the fourth quarter of last year. Instead the economy delivered a rounding error - despite absorbing just about every kind of stimulus the Treasury and the Bank of England could devise. John Paul Rathbone analyses the latest figures