UK economy back in the black

Chris Dawson

Official figures publishsed today have revealed that the UK economy has emerged from recession.

In the three months from July to September (the third quarter of the year) the economy grew by 1.0%, according to official gross domestic product figures(GDP), which measure the value of everything produced in the country.

This is considerably more than the 0.5-0.7 per cent  economists had been forecasting.

The economy had shrunk for three quarters in a row previously.

The Olmpics is said to have contributed to the good the news.

According to economists the construction and manufacturing sectors still remain fragile though.

Business figures in North Somerset have reacted positively to the news.

Chris Dawson of Colliers International had this to say: “The entire business community will be welcoming the news that we have finally returned to growth and begun to emerge from recession.”

Lucy Bristow, who is the founder of Lucy Bristow Appointments comments: “Good news to see that GDP has risen in Q3 of this year but the reality is that the Olympics factor probably has a large part to play in this.

“We certainly experienced an upturn in vacancies filled during July and August especially a lot of part-time employment as people are finding it hard to get the full-time jobs they want. 

“But as for being out of a recession? Well that’s hard to say. But what we can be sure about is that we still are not anywhere near the levels of job opportunities that existed pre-recession and there is still plenty of candidate choice when it comes to employers looking for generalist skills.”