News
UK economy boosted in third quarter
ONS reveals that the UK's Gross Domestic Product increased by one per cent in the three-month period.
Indeed, the Office for National Statistics (ONS) revealed that while the construction industry struggled, other sectors gained to help take the UK out of a double-dip recession.
While the positivity surrounding the Olympics and Jubilee is thought to have been a contributing factor in this, the nation's small businesses are also likely to have benefitted.
"There is still a long way to go, but these figures show we are on the right track," explained Chancellor of the Exchequer George Osborne.
"Yesterday's weak data from the eurozone were a reminder that we still face many economic challenges at home and abroad."
It comes after statistics from the Federation of Small Businesses, published earlier this month, revealed that small firms make up 47 per cent of private sector employment.
Posted by Thomas Fletcher
Date published 31 Oct 2012 | Last updated 25 Oct 2012
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