UK economy returns to growth

Trusted article source icon
Thursday, October 25, 2012
Profile image for V_Jones

V_Jones

The UK emerged from a double-dip recession in the third quarter of the year, preliminary figures show.

The economy returned to growth at its fastest pace in five years, the Office for National Statistics (ONS) said today.

  1. George Osborne

    George Osborne

Gross domestic product (GDP) – a broad measure for the total economy – grew by 1 per cent between July and September, ending three consecutive quarters of declining output.

But ONS warned the growth was largely due to one-off factors, including a slight lift from the Olympics and clawed-back activity lost to the extra bank holiday for the Queen’s Diamond Jubilee.

Business Cards From Only £10.95 Delivered www.myprint-247.co.uk

myprint-247

View details

Print voucher

Our heavyweight cards have FREE UV silk coating, FREE next day delivery & VAT included. Choose from 1000's of pre-designed templates or upload your own artwork. Orders dispatched within 24hrs.

Terms: Visit our site for more products: Business Cards, Compliment Slips, Letterheads, Leaflets, Postcards, Posters & much more. All items are free next day delivery. www.myprint-247.co.uk

Contact: 01858 468192

Valid until: Friday, May 31 2013

The estimate comes amid warnings from economists that the UK can expect growth to slow in subsequent quarters.

Chancellor George Osborne said that while the figures show we are on right track, the UK still faced “many economic challenges at home and abroad”.

He added: “By continuing to take the tough decisions needed to deal with our debts and equip our economy for the global race we’re in, this Government is laying the foundations for lasting prosperity.”

0
Tweet this article
Report

Comments

  • Profile image for dick_e

    by dick_e

    Thursday, October 25 2012, 8:24PM

    “Two years this lot have been shoving their austerity measures at us. This latest news is just fiddling the numbers. There is no sign of the country improving whatsoever under these incompetent bufoons.Its time the coalition was dismantled and removed. Those in power have never done a proper days work in their lives so how dare they assume to rule mine. Yes, time for revolt indeed

    As someone said this week,"I loathe Cameron; I loathe Osborne. We didn't vote them in and yet here they are deciding for us. I'd like to see their heads on spikes on Tower Bridge. Seriously. I'd sleep well"”

  • Profile image for KP287

    by KP287

    Thursday, October 25 2012, 8:01PM

    “immigrant 1 has to be a wind up, the 1% growth has come from the Olympics and companies catching up after the time lost in June. We will be back to flat or negative growth next quarter guaranteed. The odiuos, smug chancellor says they are on the right track, so the decline under the coalition is exactly to plan, he also said it was a difficult choice to cut the welfare budget, public sector jobs, spending on projects, but didn`t mention getting more from those with the broadest shoulders "The Wealthy". So obviously that is too difficult for a moron to achieve, or maybe there is no intention to follow that through! I have never listened to so much rhetoric, soundbites and cliches` coming out of the mouths of polititions, with Cameron, Clegg and Osborne the main culprits, their speeches and press briefings must be written by a comedian. I can`t believe there is any other reason for it, unless they are so ignorant and arrogant they think we all lap it up. This the first time I have despised a governemnt since Thatcher, inbetween there were idiots running the country, this lot are evil, devious posh boys. Who couldn`t care less about the majority of people in this country, time for revolt.”

  • Profile image for AndyJenkins84

    by AndyJenkins84

    Thursday, October 25 2012, 3:13PM

    “While I welcome the news, and hope that people see this as a positive step forward, this isn't vindication of the Tories economic policies. One of the causes of this spike in economic output was the Olympics, which ironically was a large state investment project that had a multiplier effect on the economy. Recently, figures have emerged that the negative effects of every £1 in spending cuts was much higher than previously thought, and with further cuts ahead - including massive reform to welfare that will drop income for many of the poorest people in the country - this will only continue to leave our national economy stagnant at best.

    I hope that the Q4 figures will prove me wrong though.”

  • Profile image for immigrant1

    by immigrant1

    Thursday, October 25 2012, 2:28PM

    “Excellent news. Perhaps people can now stop all the doom and gloom and get on with their lives. Tories are doing a great job.”

        Your comments awaiting moderation

        Be the first to comment

        max 4000 characters
         
         
         
         
         
         

        Tell us about your area

        Got some interesting news? Write about it and let your whole community know.

          Write an article