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UK economy grew 0.5% in the past three months
19/12/2011
Economic growth rose by 0.5% over the third quarter. This compares to the 0.1% growth in output reported in the second quarter of 2011. Although growth is now moving in the right direction is it still significantly below annual forecasts that were made prior to the euro zone crisis.
Compared to the third quarterly results in 2010, the British economy is now just 0.5% larger; this is 4% below the peak recorded in 2008.
Chancellor George Osbourne responded to the quarterly results positively. He stated that it is important for us to be moving forward to assist recovery and prosperity in the economy.
Homeowners aged over 55 years who have been affected by the downturn in the economy and would like to know how much money the value of their property could release to increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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