UK economy growth ahead of estimates

02/09/2010

The UK‟s economic growth reached the rate of 1.2% in the second quarter of 2010, 0.1% more than initial estimates according to The Office of National Statistics.  The announcements come as the ONS release the latest figures of the country‟s economic performance.  The report also revealed the fastest rate of quarterly expansion since 2001. However, experts warned that this level of growth does not rule out the possibility of a „double dip‟ recession.

 

An HM Treasury spokesman said: "While the government is cautiously optimistic about the path for the economy, the job is not yet done.  The priority remains to implement the Budget policies which support economic rebalancing and help ensure the sustained growth that the Office for Budget Responsibility forecast this year and next."

Source: APSCo Politcal Monitor 31 August 2010

 

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