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GDP figures show economy continues to grow

The recovery of the economy gained traction in the three months to the end of June with GDP growth of 0.6%, official figures showed today.

The growth in the second quarter was twice that seen in the first three months of this year and will spark hopes of a sustained albeit slow revival in economic fortunes.

The Office for National Statistics said the services sector grew 0.6%, manufacturing 0.4% and construction by 0.9% in the period.

This compared to poor first quarter figures for both sectors - a 0.2% contraction in manufacturing and the lowest level of activity in construction since 2001.

Overall the economy grew by 0.3% in the first quarter.

Source: The Business Desk

25 July 2013
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