THE UK climbed out of the double-dip recession with a bang between July and September as the economy returned to growth at its fastest pace in five years, official figures showed today.
Gross domestic product (GDP) - a broad measure for the total economy - grew one per cent in the third quarter of the year, the Office for National Statistics (ONS) said, ending three consecutive quarters of declining output.
City experts had expected a rise of 0.6 per cent. The actual figure is the biggest increase since the third quarter of 2007.
The largest contribution to the surge came from the powerhouse services sector, which makes up around 75 per cent of the total economy and grew at 1.3 per cent, following a 0.1 per cent drop in the previous quarter.
But the bounce-back was largely driven by one-off factors, the ONS warned, such as clawed-back activity lost to the extra bank holiday for the Queens Diamond Jubilee and a slight lift from the Olympics.
The figures are preliminary estimates and subject to revision.
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