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UK recession ended Thursday

By rotide
Created 25/10/2012 - 07:21

Bad news can wait but good news seems to be leaked earlier these days, as Bank of England Governor Mervyn King and subsequently David Cameron, gave out the news that the double dip recession is over.

These potentially market moving numbers are supposed to be released at specific times and analysts are not totally happy with the manner in which the news was released ahead of time.

The Office of National Statistics (ONS) announced growth figures of 1.00%, assisted by Olympic related revenue possibly but this major good news will now be nodded through, thanks to the collective sigh of relief and short circuiting of the market machinery for advising the world of financial data, by these two political heavyweights.

The service sector contributed healthy growth figures of 1.3% in Q3 to the overall pot, following a contraction of 0.1% in the previous quarter.


Source URL:
https://www.newbusiness.co.uk/news/uk-recession-ended-thursday