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Wednesday 07th of July 2010
October 23, 2009    

ONS to reveal GDP figures for Q3 today

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by Kay Murchie
”ONS

At 0930 BST today, the Office for National Statistics (ONS) will release UK GDP figures for the third quarter.

If the UK economy experiences positive growth in the July to September period, it will mean the economy has exited recession.

If not, it will be the first time the UK has endured six consecutive quarters without growth.

However, many analysts are hopeful that the there will be growth of between zero and 0.2%

The return to positive growth should be led by a recovery in the UK’s services sector, which dominates economic activity.

Philip Shaw, an economist at Investec, comments: “We were fairly confident that the economy would have shown positive growth during the third quarter.”

However, even if the economy has emerged from recession, some experts are concerned of a double-dip recession, whereby a short sharp recovery could result in further declines within the economy.

The fact remains that unemployment continues to rise and retail sales for September were flat - the second consecutive month that sales were unchanged.

In addition, Government borrowing continues to soar and once cutbacks set in, it could be a “bumpy ride”, according to many experts.

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