‘UK economy grew at 0.8%’

Construction workers erect scaffolding in the financial district of the City of London.

Construction workers erect scaffolding in the financial district of the City of London.

Published Dec 10, 2013

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London - Britain's economy grew an estimated 0.8 percent in the three months to the end of November but has not yet reached pre-recession levels, the National Institute of Economic and Social Research (NIESR) said on Tuesday.

The figure represents a slight increase from the 0.7 percent reached in the three months to October.

The economic think tank said that continued growth in a wide range of sectors was supporting the recovery, and the pace of expansion was consistent with a “gradual narrowing of the UK's negative output gap”.

Separate data from the Office of National Statistics earlier showed that British industrial output rose by 0.4 percent in October, slightly above a Reuters poll consensus of 0.3 percent.

The ONS also said that the overall trade deficit narrowed in the same month to 2.619 billion pounds, including a surplus in trade in services. - Reuters

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