UK economy 'out of recession' says BCC

Businesses are predicting the UK economy has moved out of recession in the third quarter of 2012, with expectations from leading firms that GDP has grown by 0.5%.

The British Chambers of Commerce's latest influential Quarterly Economic Survey said despite stagnation in the domestic market, and a fall in balances measuring exporting activity, the economy had climbed out of recession in Q3. If accurate, such a move would signal the end of the recent downturn, after the ONS's final official estimate last week showed GDP fell by 0.4% in Q2. The BCC survey, which assesses the view of 7,593 UK firms, carries weight because of its scale and scope. In the report the group also urged the government to unlock infrastructure investment and special capi...