Tuesday, March 3, 2015   

Data points to slow UK recovery
(02-26 18:42)

Britain's economy grew by less than thought last year, but still showed the fastest annual growth since before the financial crisis, revised official data show.
The gross domestic product expanded by 1.8 percent in 2013, down from the previous growth figure of 1.9 percent, the Office for National Statistics said.
That nevertheless marked the biggest annual expansion since 2007.
The economy meanwhile grew by 0.7 percent in the fourth quarter of 2013, or October-December period compared with the previous three months, aided by strong trade and business investment.
The quarterly rate was unchanged from the previous reading.
“It's encouraging that business investment grew strongly in the fourth quarter,'' said a Treasury spokesman.
“The government's long term economic plan is working, but as the Chancellor said last week the recovery is not yet secure.
“The budget next month will do more to support investment and exports, and the biggest risk to the recovery would be abandoning the plan that's providing economic security for hardworking people.''—AFP
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