Olympics helps UK return to growth

Britain rebounded strongly from recession in the third quarter, posting its strongest quarterly GDP growth in five years, boosted at least in part by Olympics spending, official data showed yesterday.

Growth was subject to temporary factors, including the Olympics, which may mask a weaker underlying picture. But it was still much better than expected and may mean Britain’s full 2012 economy will not be in the red.

The Office for National Statistics said Britain’s GDP rose 1% between July and September, beating forecasts for a 0.6% gain, after shrinking by 0.4% between April and June.