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UK Growth Accelerates
World Economy

UK Growth Accelerates

UK economic growth accelerated in the second quarter as business services and finance strengthened and North Sea output surged. The 0.7% increase in gross domestic product marked a 10th straight expansion and followed a 0.4% advance in the previous three months. It was in line with the median forecast in a Bloomberg survey. The report suggests the recovery remains lopsided and led by the dominant services industry, where growth accelerated to 0.7%. While oil and gas helped industrial output rise 1% on the quarter, the most since the end of 2010, manufacturing declined 0.3%. Construction was unchanged.

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