Uk avoids triple dip recession!
Figures suggest that the UK has avoided the threat of a triple dip recession as GDP rises 0.3% in the first quarter. But will this boost consumer and business confidence? Is this a sure sign that the economy is healing?
The first three months of 2013 show that gross domestic product (GDP) has grown by 0.3% according to preliminary findings by the Office for National Statistics.
The Chancellor George Osborne said the figures were an “encouraging sign that the economy is healing”.
According to Economists, the figures should give a slight rise to consumer and business confidence, but the wider economic picture is still uncertain.