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'Olympic effect' helps UK out of recession

25 October 2012 Last updated at 09:49 BST

The UK economy emerged from recession in the three months from July to September, helped by the Olympic Games.

The economy grew by 1.0%, according to official gross domestic product figures (GDP), which measure the value of everything produced in the country.

ONS chief economist Joe Grice said that special factors such as the Olympics and a poor previous quarter due to bad weather and an extra bank holiday influenced the figure.