British third quarter growth confirmed at 0.7%

GMT 11:38 2014 Tuesday ,23 December

Arab Today, arab today British third quarter growth confirmed at 0.7%

British economic growth to 0.7%
London - AFP

British economic growth slowed to 0.7 percent in the third quarter of 2014 from the previous three months, official data showed Tuesday, in line with the prior estimate.
However, the economy grew by less than previously thought in the first six months of the year, the Office for National Statistics (ONS) said in a statement.
Gross domestic product (GDP) expanded by 0.8 percent during the second quarter, and by 0.6 percent in the first quarter. That compared with the prior expansion estimates of 0.9 percent and 0.7 percent respectively.
On another downbeat note, the ONS added that economic growth in the July-September quarter was weaker than thought, compared with the same period a year earlier.
The economy grew 2.6 percent in the three months to September from a year earlier, hit by weaker business investment. That marked a downgrade from the previous growth estimate of 3.0 percent.

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