UK to emerge from recession on back of Olympics?

<p>The Olympic Games may have pulled the UK out of recession in the third quarter.</p>

The UK is expected to emerge from recession on the back of the Olympic Games, which is anticipated to have provided a much-needed boost to the economy between July and September.

Data confirming whether this is the case will be revealed on Thursday (October 25th) and if so, chancellor George Osborne will be welcoming the news, as it will strengthen his budget-cutting plans.

Analysts anticipate a 0.6 per cent rise in gross domestic product (GDP), hoisting the economy out of the longest double-dip recession since World War II.

Economists claim the increase in GDP would be down to temporary factors such as the Olympic and Paralympic Games, while the third quarter's reading is also expected to pick up after the Queen's diamond jubilee long weekend dented output in the second quarter, on account of the additional bank holiday.

The FTSE 100 was steady at 10:15 BST, rising by a marginal 4.4 points to an index value of 5900.6 points.

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