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UK recovery speeding up

By Western Daily Press  |  Posted: March 09, 2014

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The UK economy will exceed its pre-recession peak by the summer, according to upgraded forecasts from a leading business lobby group today.

The British Chambers of Commerce now believes the UK will grow by 2.8 per cent this year and the second quarter will see gross domestic product (GDP) back at the level seen in the first quarter of 2008.

A year ago, amid a much gloomier picture for the economy, the BCC predicted the pre-recession peak would not be reached until 2016, although several revisions brought that forward to the third quarter of 2014 in December. It has taken more than six years to return the economy to the position it was in before it nosedived.

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