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Double-dip Recession to end, as Growth is forecast

When will the recession end? This is a question that will have been on the lips of all of those doing business within the UK since 2008, and finally it looks as though there may be an answer. Reports into the state of the UK economy have revealed that we could be nearing the end of the double-dip recession that has blighted the country on and off since the second quarter of 2008.

Figures released later this week are expected to show that the UK economy is on the mend, and heading back towards growth. The amount that economy shrunk by over the second quarter of the year was initially overestimated, and initial figures of 0.7pc are thought to be closer to 0.4pc.

Subsequently there is definite room for growth in the third quarter, which could be boosted by the Olympic Games, although it is currently impossible to predict the actual impact the event had, as well as much improved industrial production.

Although growth is expected for the quarter, it is unlikely that it will turn around the complete years figures, and it is still expected that 2012 will still have an economy that has shrunk since the previous year.

Peter Dixon of Commerzbank commented: “On the face of it there should be a notable move back into growth in the third quarter. The recovery from the Jubilee Bank Holiday should make a positive contribution, but the unknown factor is whether London 2012 has displaced the economy rather than adding to it”.

There are no answers as of yet in terms of whether we will be back into growth before the end of the year, but the signs are certainly positive.

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