A leading business body has claimed the UK is not in recession and rather the economy is expanding, refuting recent figures from the UK's official statistics bureau.
The British Chambers of Commerce (BCC) believes the recovery has begun and there was growth between July and September 2012.
Based on a survey of nearly 7,600 firms, the organisation claims the economy expanded by 0.5 per cent over this timeframe after three quarters of contraction in a row.
The BCC says it does not agree with the Office for National Statistics' view that the country has been in recession for so long, but the UK is not out of the woods yet.
Director-general of the BBC John Longworth commented: "Despite official estimates, we believe the economy is still growing, but it is slowing. We need immediate measures now to support confidence."
At 09:40 BST today (October 2nd), the FTSE 100 index was marginally lower by 0.1 per cent, slipping to a value of 5810.2 points.
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