The Olympics will help get the UK out of depression this year, as economic growth should flow on the back of increased consumer costs and Olympic ticket sales.Shona Dobbie, head of the economic research centre at Alliance Trust, believes that the UK will have strong growth this summer as although most Olympic tickets were bought in the second quarter of 2011, they will only show up in GDP figures for the third quarter of 2012 – when the Olympics actually take place. Last month, GDP figures for the first quarter of 2012 showed that the UK was officially back in recession. In the first three months of this year, growth contracted by 0.2%, which followed a drop of 0.3% in the last three months of 2011.
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