GDP

The double-dip recession which has plagued the UK for the first half of 2012 should officially end later this week, economists are predicting, as the impact of the Olympics and the Jubilee kick-in.

UK growth may yet provide a positive surprise relative to developed market peers, according to analysts at Credit Suisse.

Businesses are predicting GDP will have grown by 0.5% in the third quarter of 2012, although leaders are still warning of stagnation.

The US economy grew more slowly than expected in the second quarter, compounding fears the world's largest economy could be heading back into recession, the latest data has revealed.

UK GDP growth has been revised slightly upwards to a contraction of 0.4% in Q2, according to the final estimate from the Office of National Statistics.

Bank of England governor Mervyn King has called the end of the recession in the UK and pointed to signs of growth returning to the economy.

The Confederation of British Industry and British Chambers of Commerce have each cut their 2012 UK GDP forecasts and called for the government to do more to prompt growth.

The Office for National Statistics has revised up its estimate of second quarter growth from a 0.7% contraction to a fall of 0.5%.

Official GDP figures for the second quarter will be revised later today after better-than expected construction and industrial production figures.

Britain's economy would suffer harsher consequences than Germany's should the eurozone break up, a consultant has predicted.