Preliminary Estimate of Q3 GDP is 0.8%

Click here for our Clash of the Titans page.

Q3 '13 GDP Growth (Preliminary Estimate): 0.8%

Average Prediction: 0.4%

Number of Correct Forecasts: 12/310

Current Greek Bond Yield Low: 8.13 (22nd May)

After last quarter's relatively high growth rate of 0.7%, speculation turned to whether the first estimate of third quarter GDP growth would remain at that level, or would dip back down to previous low rates.  As it turned out, the estimate is higher than last quarter, at 0.8%, driven by reasonable growth in all sectors.  This figure will be revised several times over the coming months, but as it stands it certainly looks like positive news, despite the fact that the economy is still 2.5% below the peak in 2008.

Only 12 of our 310 competition entrants correctly forecast a growth rate of 0.8% back in December, although this is still more than the 5 people who guessed last quarter correctly!  After this update, there has been some significant movement in the public competition, with a completely new top three.  However, LSE's Ethan Ilzetzki looks entrenched in first place in the official competition, and has surely won it now.

The next update will be Q3 unemployment, due out on the 13th November.  Click here for a summary of the results so far, or here for the full standings.

If you didn't enter (or even if you did), and think you could do better than our current crop of forecasters, then make sure you don't miss out next year by registering your interest here.  If you'd like to listen to the experts first, you can book tickets to this year's event here.