British economy did not fall into a triple dip recession as previously feared
Thursday, 25 April 2013
economy avoided the triple dip recession with an economy that grew
better than expected to 0.3 percent in the first quarter compared with
the previous quarter.
with the same quarter last year, GDP rose 0.6 percent, according to an
estimate from the British statistics office, The Office for National
expected that GDP would grow by 0.1 percent over the previous quarter,
and rise by 0.4 percent from the same quarter the year before,
according to various analytical consensus.
production rose 0.2 percent in the first quarter compared with the
previous quarter. Service production rose 0.6 percent, while
construction output fell 2.5 percent. One major driver was improved
performance of the British North Sea oil-drilling activities, which was
not previously added, in the last estimate.
the deputy Prime minister speaking on the radio station, London Biggest
Conversation (LBC) during his phone in program said that the figure
were better than previous expected but that there is still lots of work
to be done to bring the economy out of the woods.
by Scancomark.com Team