|UK economic growth confirmed at 0.7%|
The UK economy grew by 0.7% in the second quarter of the year, official figures have confirmed. Bright spots included the construction and industrial sectors, which expanded at their fastest pace for three years. However, the pace of consumer spending was revised down, and business investment fell. The Office for National Statistics (ONS) also revised up the growth rate for the first quarter of the year to 0.4% from 0.3%.
Other changes saw the growth estimates for the third and fourth quarters of 2012 revised down, and the ONS said the UK's economy grew by 0.1% during 2012 as a whole, down from its previous estimate of 0.2%.
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Published on our website on September 29, 2013