In a small ray of sunshine, the Office for National Statistics (ONS) reports that Britain's economy grew by 0.3% in Q1 of this year; thus the UK has avoided entering its third technical recession by the skin of its teeth.
The 0.3% rate of growth even managed to be larger than the 0.1% predicted by economists.
However, before people break open the Bollinger, it should be remembered that 0.3% is not exactly "stellar" and that China is feeling very sorry for itself having "only" managed to grow by 7.7%!
However, as I always say, never rely on ONS statistics they are out of date and will be revised upwards/downwards in due course.
