Britain's economy passes pre - GFC growth rates despite broader eurozone weakness
Britain's economy passes pre - GFC growth rates despite broader eurozone weakness. Concerns about growth in the Eurozone remain, however, Britain's economy just recorded its strongest growth since before the financial crisis. Growth between April and June was confirmed at 0.8% by the Office for National Statistics in its second estimate, in line with expectations. The last time the economy grew by more than 0.8% was the third quarter of 2007, before the global financial crisis took hold. GDP is now 0.2% above its pre-recession peak in the first quarter of 2008. The annual growth rate was revised up from 3.1% to 3.2% - the strongest in more than six years. Economists are warning that the growth outlook is going to fall in the hands of domestic consumption as growth in the broader Eurozone grinds lower. Coverage from the Guardian here: (VIEW LINK)
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