The Treasury have tweeted reaction to the latest GDP figures:
Chancellor:“Today’s figures are an encouraging sign the economy is healing. Despite a tough economic backdrop, we are making progress. (1/4)
The deficit is down by a third, businesses have created over a million and a quarter new jobs, and interest rates are at record lows. (2/4)
We all know there are no easy answers to problems built up over many years, and I can’t promise the road ahead will always be smooth…(3/4)
Finally the Treasury tweeted: "…but by continuing to confront our problems head on, Britain is recovering and we are building an economy fit for the future."
Official figures revealed Britain dodged a much-feared triple-dip recession with growth of 0.3% in the first three months of the year.
Today's news that a triple dip recession has been averted means very little in economic terms, but politically it is critical.
The latest GDP figures show Britain has avoided another recession, but the long-term picture is of an economy that remains resolutely flat.