Britain's recession-scarred economy expanded more rapidly than first
thought in the second quarter of the year, by 0.7%, stoking hopes that
recovery is finally taking hold.
In its second estimate of growth
from April to June, the Office for National Statistics said GDP grew
more strongly than its first estimate, of 0.6%. The 0.7% jump was the
strongest since the third quarter of last year, when the economy was
boosted by the Olympics.
The upturn is also more broad-based than
first thought, according to the breakdown of the data, helping to
assuage fears that the UK is in an unsustainable "Alice in Wongaland" recovery, too dependent on consumer spending. Read more...
