Year-on-year rise sees GDP hit the 1.2% mark in Q2
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The latest figures from the Office for National Statistics - released last week - showed that gross domestic product in Q2 2010 was 1.2% - 1.7% higher than for the same period in 2009.
Household expenditure rose 0.7% compared with a fall of 0.1% in Q1 this year.
Jeremy Cook, chief economist at World First, says: “It is evident that while the recovery has started it is still at an embryonic stage. There will be some concern about the 0.7% increase in private consumption - this is likely to fall as austerity measures bite come October.”
