A 'sustained recovery' begins in Britain

The government has declared that Britain is on the road to recovery. But will it last?

Chancellor George Osborne has declared that the economy is "turning a corner". A survey tracking activity in the service sector reached a seven-year high and a composite gauge of construction, manufacturing and services hit a record. Consumer confidence is at a four-year high. The latest Halifax release showed house prices rising at an annual rate of 5.4%. Unemployment edged down to 7.7%. Analysts are now pencilling in growth of 1.5% or more in the third quarter after a solid 0.7% expansion between April and June.

What the commentators said

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