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New figures have shown that the UK economy grew at a faster annual rate in the second quarter of 2007 than previously estimated.
The Office of National Statistics (ONS) said that in the period between April and June the economy grew by 0.8 per cent, which is good news for business start-ups.
This figure was revised up from 0.7 per cent, which was also reflected in the annual growth rate of the UK economy by 3.1 per cent in the second quarter up from an estimated three per cent.
Howard Archer, Global Insight chief economist, told the BBC his views on the new figures.
He commented: "We strongly suspect that the second quarter marked the peak in GDP growth.
"While growth appears to have held up relatively well in the third quarter, economic activity seems set to slow appreciably over the coming months in the face of mounting headwinds, particularly the ongoing credit crunch."
In other news this week, the managing director of Get Safe Online, Tony Neate, has said that it is essential for a company formation to be well protected against online threats.
He said: " Over the last few years more and more small businesses are becoming dependent on technology.
"More and more businesses are aware of it [online safety], but they can get better. We know that the proportion of people that use anti-virus software is fantastic; over 90 per cent, but the people using anti-spyware is still quite low.
"If companies are involved in transacting or advertising online, they will maybe need to take more action in terms of getting third party security."
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