Britain's GDP expands 0.4 percent in Q1


(MENAFN) According to the Office for National Statistics (ONS), Britain's gross domestic product (GDP) grew by 0.4 percent in the first quarter, up from an estimate of 0.3 percent, Xinhua reported.

The figures also showed GDP increased by 2.9 percent in the first quarter compared to the same quarter a year ago, revised up 0.5 percent from the previously published estimate.

For 2014, British economic growth was revised up to 3.0 percent from 2.8 percent. The revisions are mainly due to a better performance from the construction industry than previously estimated.

"The national accounts showed that the recovery has more momentum than previously thought," a senior British economist at Capital Economics, a London-based economic research company, said.


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