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UK economic growth at four year high

Data released by the Office for National Statistics today shows that the UK economy grew by 1.1% in April and June 2010, nearly double analyst's expectations of a 0.6% increase. This is a welcome relief to the UK government at a time when budget cuts and investment issues are very much grabbing the headlines and taking away from the very difficult and very challenging situation which the UK government finds itself in. So is the UK now well and truly out of recession?

While there's no doubt that the increase of 1.1% was significantly more than expected, we may see the figure adjusted in the future. However, amidst all the doom and gloom and talk of a double dip recession in the UK it would seem that the underlying strength of the UK economy is perhaps now coming to the fore?

Even though there are many experts pushing the prospects for the UK economy there are as many who would rather wait for confirmation in the third and final quarters of 2010. It was very evident that George Osborne was unwilling to make a "meal" of the improved figures suggesting there is potentially bad news on the horizon?

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