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Wednesday, 24 November 2010

Private sector leads recovery

The UK economy expanded by 0.8% in the third quarter.

GDP growth ignoring government spending is stronger than overall growth, and rose by 1%, after a 1.3% in the second quarter. That is equivalent to 4.7% annualised growth. Nominal GDP is now back above its level at the peak in late 2008 allowing for the impact of VAT.

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