Olympics help lift UK out of recession - NIESR

In its October estimate of GDP, the National Institute of Economic and Social Research said output grew by 0.8% in third quarter following 0.1% growth in Q2. It said this was the most robust rate of growth since the three months to July 2010. However, it said this stronger figure was partly caused by one-off events such as the London Olympics, and the actually number will be lower once these effects are removed. Stripping out the extra bank holidays in the summer and Olympic ticket sales, UK growth for the quarter will be closer to 0.2%-0.3%, said NIESR. This still means with two cons...