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Construction boosts UK growth


Construction boosts UK growth


Britain’s economy grew faster than originally thought in the second quarter of the year.

The Office for National Statistics says GDP grew by 1.2 percent from the first three months, that was a nine-year high.

Its preliminary estimate was 1.1 percent. The revision came after construction output proved stronger than first thought.

However analysts doubt the pace of recovery can be sustained.

The figures provide further evidence that Britain’s economic recovery accelerated sharply during the first half of the year but there is concern that a weakening world economy and looming UK government spending cuts will sap growth in 2011.

“The second quarter is still likely to represent the high point of quarterly growth as fiscal tightening and a renewed slowdown in global activity constrains a more robust recovery,” said Hetal Mehta, an economist for Daiwa Capital Markets.

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