The UK economy grew in the third quarter of 2012 according to figures released by the British Chamber of Commerce (BCC).
Based on a survey they conducted with 7,593 UK firms the BCC said the economy grew by 0.5% between July and September.
Meanwhile the Office for National Statistics (ONS) won’t release its first estimate until October 25, but it is likely that due to an Olympic boost its figures will also indicate a return to growth.
Amidst a wave of negative outlooks and gloomy predictions at last we finally have some positive reports about the UK finally clambering back out of recession, this adds to the recent news that the economy only shrank 0.4% in the second quarter between April and June compared to initial estimates of 0.7%.
So who knows maybe this is that start of a more stable and hopefully sustained period of growth that will enable the UK economy to start to pull away from the problems facing several economies across Europe.
It’s very early days I know but this is the first sign that the little shoots of growth are just beginning to spout.
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