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Olympic spending propels economic rebound in Q3

London (Reuters) - the Olympic Games in London to promote economic growth in the UK the most strong quarter five years during July to September, the spending, but this kind of strength is unlikely to continue.
Tuesday's data confirm, Britain has gone out of the recession, will buoy finance minister George Osborne (George Osborne) a week before, he was to save his semi-annual budget statement.
The last quarter gross domestic product (GDP) grew 1%, and the national bureau of statistics of the preliminary estimate, economists predict office.
However, business investigation, since the draw a pessimistic the fourth quarter, retail sales - measure important consumer spending - released in October accident drop.
"The good news from the third quarter is unlikely to continue, wood, belem berger's bank economists rob said."
"From the Olympic Games closing the fourth quarter and enterprise survey pessimistic an ascending, return shrinkage is possible," he added.
Output from the bank of England governor king warned that may once again reduced October to December.
Compared with a year ago, GDP fell by 0.1%, slightly inferior to first thought, ONS said.
The Olympic BOUNCE
This quarter consumer spending increased 0.6% more than two years - the biggest growth. The national bureau of statistics said, mainly by leisure and cultural aspects of the expenses, including for the London Olympic Games and the paralympics games took place in late July and September at the beginning of the tickets.
From the previous three months of rebound, an additional public holiday sag of the output in the third quarter gross domestic product reading also alacrity.
Britain's net trade condition improved, this quarter export growth 1.7% - partly because consumption visitors - import dip 0.4%, ONS said.
In Britain the service sector, which makes more than three-quarters of gross domestic product, the output rose by 1.3% in the third quarter - the biggest increase in five years. It dropped 0.1% in the second quarter.
Industrial production rose by 0.9%, but the building to shrink up to 2.6%.
Britain is still not fully recover output losses in the financial crisis after, and the euro area's debt problems, the government retrench, in order to reduce the financial deficit and the bank arisen hindrance to economic growth.




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