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British economy returned to Growth?

Tuesday, 02 October 2012
That the British economy returned to growth in the third quarter, is what the British Chambers of Commerce (BCC) is saying.

Based on its survey of 7,593 British companies, the BCC says the economy grew by 0.5% between July and September, after three consecutive quarters of contraction.

The BCC is therefore going against the official data released by Office for National Statistic (ONS) which show what is described as a "gloomy estimation" that the UK which has been in recession for the whole period.

Last week, in a revised second quarter GPD report, it was revealed that the British economy contracted by 0.4 percent, less than previously thought in the second quarter - that is the April-to-June period.

Yesterday, it was reported that the UK manufacturing activity dropped again in September, fuelling fears that the economy is deteriorating after a brief rebound. Most analysts say the UK economy is very choppy and that real growth will come after a very long time.
by Scancomark.com Team