Has UK finally dealt with the recession? BCC predicts return to pre-crisis GDP growth in 2014

The recent acceleration in growth has prompted the BCC to bring forward its prediction for a return to pre-crisis levels of growth by the third quarter of 2014. The business group forecast a GDP rise of 2.7% in 2014, up from its prediction of 2.2%, made as recently as August. This change of tune comes on the back of strengthening household consumption and an accelerating growth trend, with the UK economy growing 0.8% in the third quarter. Although a return to pre-crisis growth next year would still mean it took the UK six years to fully recover, the new estimate counters fears of a...