9/1/2010 9:56:52 AM
ONS identifies UK economic growth
The UK economy grew by a much improved 1.1% in the second
quarter of the year, according to the Office for National
Statistics (ONS). Most economists had anticipated a growth ceiling
of 0.6%.
This was the best quarterly growth since 2006 and a big leap
from the first quarter of 2010/11 when the economy grew 0.3%.
The majority of this growth was fuelled by the services sector.
Services account for around three quarters of the UK Economy and
within this sector business and finance recorded a rise of 1.3%,
its best performance for three years.
There was a big contribution from the construction industry,
which grew at its fastest rate since 1963.