The UK narrowly escaped a double-dip recession by posting slight growth in the second quarter of the year, according to the latest monthly GDP estimate from NIESR.
Investment veteran Warren Buffett has said the chances of the US slipping back into recession are very low, despite fears over the fiscal cliff facing the country at the end of the year.
US GDP growth for the first quarter has been revised down in the second estimate from the Bureau of Economic Analysis (BEA).