here's mervin king speaking. >> it is not a reliable guide to the future.rowth in q-2 gave a misleadingly week picture of the economy, so growth in q-3 has been boosted by one off factors and gives an overly optimistic impression of the underlying trend. continuing the recent zigzag pattern, the boost from the olympics and the summer is reversed, indeed, output may shrink a little this quarter. it's difficult to discern the underlying picture. it is probably neither as good as the zigs suggest more as bad as the zags imply. despite a resilient labor market, as we saw again in this morning's figures, the economy has barely grown over the past two years. that unexpected weakness reflects the impact of the euro area crisis and its effect on confidence and bank funding costs and the sharp squeeze on real incomes from higher than expected world energy and food prices. as some of these headwinds abate, a slow recovery is in progress, brought about in part by the funding for lending scheme. the committee's overall judgment about the outlook for fourth quarter gdp