FTSE 100 rallies on positive growth figures for Q3
City Index November 27, 2012 5:45 PM
<p>The FTSE 100 has made gains after positive growth figures for the third quarter were reported by the ONS.</p>
The FTSE 100 has rallied today (November 27th) after a fresh report firms up data stating the UK is out of recession.
Office for National Statistics (ONS) figures for the third quarter of the year show the economy grew by one per cent – which is unchanged from a previous estimate.
This as good as confirms the nation has been hoisted out of its nine month-long period of recession, but this period of prosperity may not be guaranteed to continue in to the fourth quarter.
The ONS says the Olympics did much to improve the state of the country between July and September, which may be why some analysts are concerned the boost will be short-lived.
Indeed, Chris Williamson of research firm Markit commented: "If anything, the details in the new data further highlight the temporary nature of the upturn. Payback is likely in the fourth quarter."
At 11:45 GMT, the FTSE 100 advanced by 0.3 per cent to an index value of 5807.7 points.
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