Thursday, August 28, 2014   

UK posts 0.8pc growth in first quarter
(04-29 17:05)

Britain's economy grew by 0.8 percent in the first quarter of 2014 compared with the final three months of last year, official data showed on Tuesday.
Gross domestic product had expanded by 0.7 percent during the fourth quarter (Q4) of 2013, the Office for National Statistics said in a statement.
Analysts' consensus forecast had been for GDP output of 0.9 percent in the first quarter, according to a survey by Dow Jones Newswires.
"Output increased in three of the four main industrial groupings within the economy in Q1 2014 compared with Q4 2013,'' the ONS said.
"In order of their contribution, output increased by 0.9 percent in services, 0.8 percent in production and 0.3 percent in construction. However, output decreased by 0.7 percent in agriculture.''
GDP was meanwhile 3.1-percent higher in the first quarter compared with the equivalent period of 2013. --AFP
   
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