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INSTANT VIEW-UK Q2 GDP unexpectedly revised up to 1.2% qq

Fri, 27th Aug 2010 10:45


LONDON, Aug 27 (Reuters) - Britain's economy grew faster than originally e
stimated in the second quarter of this year, hitting its fastest rate of growth in more than nine years, official data showed on Friday.

An upward revision to construction output meant the Office for National Statistics revised up its initial estimate of 1.1 percent to 1.2 percent growth on the quarter.

The figures provide further evidence that Britain's economic recovery accelerated sharply during the first half of the year but economists are concerned that a weakening global economy and looming UK government spending cuts will sap growth in 2011.





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KEY FIGURES FOR SECOND ESTIMATE OF Q2 GDP



Q2 2010 Q1 2010 FCAST

% QQ +1.2 (+1.1) +0.3 +1.1

% YY +1.7 (+1.6) -0.2 +1.6



KEY POINTS

- Biggest qq rise in GDP since Q1 2001

- Biggest yy rise in GDP since Q1 2008

- Biggest qq rise in construction output since Q1 1982

- Biggest qq rise in household expenditure since Q1 2008

(uk.economics@reuters.com, Tel: 44 207 542 5109)

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