GDP

UK GROWTH

German GDP grew 2.2% in the second quarter, the largest gain in more than 20 years.

EM PRIDE AND PREJUDICE

SECTOR WATCH

Alan Greenspan, the former chairman of the Federal Reserve, believes the US economy still faces the threat of the dreaded double dip recession.

UPDATE: The FTSE has bounced back from heavy losses earlier this afternoon on the back of weak GDP figures from the US.

Bank of England (BoE) Governor Mervyn King has issued a stark warning to MPs "not to read too much" into recent strong GDP figures.

One of the most frequent assertions by fund managers across the UK investment press over the last year has been that, while the domestic economy may be set for anaemic growth, UK companies are set to fare a lot better.

Ignis' chief economist Stuart Thomson believes another round of quantitative easing "on a larger scale and over a longer period" is needed on both sides of the Atlantic to avoid a double-dip recession.

UK GDP increased by a surprise 1.1% in the second quarter, almost double the consensus estimate.