Recently released official figures have revealed that UK might soon be out of recession, making it one of the first countries to say goodbye to the economic downturn which has hit the whole world.

In what has come as a good news to many, and Chancellor Alistair Darling in particular, British economy might show a return to growth in the third quarter figures which are expected anytime soon.

After five consecutive quarter postings of losses, analysts polled by Reuters have estimated a 0.2% overall economic growth for the months of July and September. The positive figures have come after a 0.8% and 2.4% loss in the second and first quarters respectively.

While this has sounded an upbeat and optimistic beat all around, Bank of England Deputy Governor Paul Tucker has warned that people should not get carried away. "I fear that we may not be much clearer about the general trends in demand until at least late spring or early summer next year", he said.

While the figures are still an estimate, they have been able to send out positive signals. Banks, investors, analysts and the population in general is now much hopeful of a definite end to recession.