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British economy grows 0.8% in second quarter

Britain's economy grew by 0.8 per cent in the second quarter of 2014 compared with output in the first three months of the year, official data showed on Friday (Aug 15).

LONDON: Britain's economy grew by 0.8 per cent in the second quarter of 2014 compared with output in the first three months of the year, official data showed on Friday (Aug 15).

Gross domestic product had also expanded by 0.8 per cent during the first quarter of the year, the Office for National Statistics said in a statement, confirming initial estimates provided last month.

GDP grew by 3.2 per cent in the April-June period compared with the second quarter of 2013, slightly up on the initial estimate of 3.1 per cent.

At 0.8 per cent quarter-on-quarter, Britain's economy overtook the size it achieved before the global financial crisis of 2008.

While Britain's economy shows signs of solid recovery, growth in the 18-country eurozone ground to a halt in the second quarter, official data showed on Thursday, dragged down by France and Germany and casting a cloud over the crisis-hit region.

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