UK economy grew 0.7% in fourth quarter

Wednesday, February 26, 2014

The UK economy grew by 0.7 percent in the last quarter of 2013, according to official figures

The UK economy grew by 0.7 percent in the last quarter of 2013, according to official figures

LONDON - The UK's economy grew by 0.7 percent in the last quarter of 2013, the UK´s Office for National Statistics (ONS) said Wednesday.

The official figures showed a pick-up in business investment, with an 8.5 percent rise from a year earlier, helped to lift growth in the final three months of 2013.

Gross Domestic Product (GDP) is estimated to have increased by 1.8 percent in 2013, compared with 2012, a downwards revision of 0.1 percent.

The ONS added that net trade, household and government consumption also contributed strongly to growth in the fourth quarter.

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