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Economic growth in surprise 1.1% climb

Author: Andrew Tjaardstra

Source: Professional Broking | 23 Jul 2010

Categories: Management, Broker

Tags: economy | volcano

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An estimate from the Office for National Statistics indicates the economy grew by 1.1% in the second quarter of this year.

This was at a faster rate than expected in the second quarter, and significantly more than the first quarter rate of 0.3%. The services sector grew by 1.3% including strong growth from the construction industry. The only sector not to grow was transport and communications which fell 0.7% as the Icelandic volcano took its toll.

Tags: economy | volcano

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