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Thứ năm, ngày 31 tháng 10 năm 2024
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Ngày 26/07/2010-10:05:00 AM
British economy grows by 1.1 percent in 2nd quarter
The British economy grew by 1.1 percent in the second quarter of this year, according to figures released Friday by the Office for National Statistics.
The growth almost doubles the growth rate of 0.6 percent predicted by economists and was the fastest advance in four years.
The services sector, which accounts for three-quarters of the economy, saw its best quarter in more than three years with growth of 0.9 percent.
There also was a big contribution from the construction industry, which grew at its fastest pace since 1963 at 6.6 percent.
"Today's figures show the private sector contributing all but 0.1 percent of the growth in the second quarter, and put beyond doubt that it was right to begin acting on the deficit now," said Chancellor George Osborne.
"While I am cautiously optimistic about the path for the economy, the job is not yet done," he added.
Osborne said the priority now is to implement budget policies that support rebalancing and help ensure the sustained growth that the Office for Budget Responsibility forecast this year and next.
The strong performance will also put pressure on the Bank of England's Monetary Policy Committee to consider a rise in interest rates from their record low 0.5 percent./.
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