UK’s double-dip tipped to end after Olympics boost
According to a report in the Sunday Times, City forecasters are expecting to see growth in Q3 of between 0.4% and 0.8% when the official figure is released.
It will be the first reading of GDP for the quarter, and although it will not be a final estimate and faces revision, it could at least bring some cheer to markets if it is anywhere near the upper end of expectations.
The UK economy has continued to bounce along the bottom over the past year, flirting with growth and recession in equal measure.
In Q2 the economy shrank by 0.4%, but economists expect a pick-up in Q3 because of the Olympics and the Jubilee celebrations.