News Summary: UK recession over, economy grows 3Q
By: The Associated Press
RECESSION OVER: Britain's economy emerged from its nine-month recession in the July- September quarter, when spending on the Olympics helped it grow 1 percent.
BETTER THAN EXPECTED: Economists predicted growth of 0.6 percent for the period. It was the strongest quarterly growth in five years, bringing economic output back to the same level of a year ago.
IMPLICATIONS: The upturn will make the Bank of England less likely to approve a further round of economic stimulus in November, analysts say.
RECESSION OVER: Britain's economy emerged from its nine-month recession in the July- September quarter, when spending on the Olympics helped it grow 1 percent. BETTER THAN EXPECTED: Economists predicted growth of 0.6 percent for the period.