The UK economy saw a silver lining in the dark clouds of recession after analysts polled by Thomson Reuters said country's economy grew by 0.2 per cent during the three months ended September.

Even the slight growth by the economy is important as compared with a fall of 0.8 per cent in the 2Q and a contraction of 2.4 per cent in the 1Q.

However, Bank of England deputy governor Paul Tucker's statement, in which he said that the economic recovery would be slow and weak.

Speaking on the issue, Paul Tucker said, "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."

Paul Tucker's views were backed by retail sales figures, which remained stagnant in September as compared with the previous month.

In addition, the Chartered Institution of Personnel & Development has also cautioned that recession is far from over.