Highly encouraging figures from the Office for National Statistics showed a somewhat surprising 1% rise in the UK Q3 GDP. The GDP, or Gross Domestic Product is a measure of productivity in an economy, and is often the figure used to illustrate the general health and growth within an economy.
The larger than anticipated number is being attributed to the “olympics effect”, with the Office for National Statistics claiming that 0.2% of the percentage was down to Olympic and Paralympic ticket sales. While David Cameron will champion the sterling GDP growth, Ed Balls countered in a Sky News interview saying that “underlying growth remains weak.”