UK leaves recession with strong quarterly growth

The economy officially emerged from recession in the three months to September, posting its strongest quarterly growth in five years.

Official figures from the Office for National Statistics said this morning that the economy expanded by one per cent in the third quarter, compared to a contraction of 0.4 per cent over the previous quarter.

Third quarter GDP was boosted by the Olympic Games, the statistics office said, as Olympic ticket sales boosted GDP by 0.2 per cent.