These things are never linear – it’s not unusual to get erratic data at a turning point. We are going to see a rebalancing of the economy, which is an awfully good thing but also involves a bit of pain.
GRAEME LEACH | INSTITUTE OF DIRECTORS
The GDP numbers are better than expected given indicators suggesting a much weaker performance. The key question is will it last and that's where I’m more cautious – the economy is about to sail through choppy waters.
SIMON HAYES | BARCLAYS CAPITAL
People aren’t getting too excited about the GDP number because the construction growth is not something we expect to see continue. We’re not inclined to extrapolate forwards from two quarters of above-trend growth.
JONATHAN LOYNES | CAPITAL ECONOMICS
These numbers will clearly ease near-term concerns over a possible double-dip in the UK economy and suggest GDP?growth this year of over 1.5 per cent, but they don’t transform the outlook of a pretty weak recovery.
IAN MCCAFFERTY | CBI
The timing of the VAT rise in the new year will help to bolster spending over the fourth quarter, but this is also likely to slow growth more noticeably through the winter and early next year.