Unite the Union said today's GDP figures show the growth in the economy is too London-centric and does not reflect what is really happening in the rest of the UK. General Secretary Len McCluskey:
"While any growth in the economy is to be welcomed, the picture is clouded by the artificial boost to the economy generated by Olympic ticket sales, a once-in-a-lifetime occasion, which was responsible for 0.2 per cent of this growth."
“Too much of the growth is centred on London and the service sector, a more realistic indicator is that the construction industry is still in the doldrums and its contribution to the last quarter’s GDP figures declined by 2.5 per cent."
Today's GDP figures are obviously good news, but the Chancellor is rightly cautious about the state of the recovery.
Underlying growth is a rather less impressive 0.3 per cent when the Olympics and bank holidays are taken into account.
Official figures are expected to confirm today that the UK economy has pulled out of recession. But future growth could remain slow.