The British economy just got an upgrade
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REUTERS/Luke MacGregor
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The top line is that growth was a little faster than expected: 0.6% in the final three months of the year, and 3% over the year as a whole.
Analysts had expected 0.5% in the final three months and 2.7% for the year overall.
Here's how it breaks down:
- Overall GDP rose by 0.6% from the third quarter to the fourth.
- And it's up 3% in comparison to the fourth quarter in 2013.
- Business investment increased by 3.7% after a big miss on expectations in the third quarter.
- The "index of services" - effectively the output of Britain's dominant services sector, rose by 0.8% quarter on quarter
Here's how the last several years look for the British economy:
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