Britain has shaken off the double dip recession this week, Economists say, GDP figures for the third quarter have shown a return to growth.
City forecasters say the economy has grown 0.4% to 0.8% after two quarters of decline. In the second quarter, Britains output shrank by 0.4%. The Office for National Statistics (ONS) released figures yesterday.
But the ONS cautioned yesterday that the Olympics had distorted the boost.
ONS director Joe Grice added that in the past year growth is FLAT – and Britain had only just clawed back HALF of the collapse in output since 2008.
Chancellor George Osborne said the figures showed the economy was on the “right track”.