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GDP is expected to have grown by 0.6 per cent for the three months ending in May, according to a leading economic thinktank.
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The Bank of England believes growth will be stronger and inflation will be weaker than expected for the first time since before the financial crisis.
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GDP growth for the three months ending in April is estimated to have increased to 0.8 per cent, according to a national thinktank.
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GDP increased by 0.3 per cent in the first quarter of 2013, according to preliminary figures from the Office for National Statistics today.
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The latest GDP figures suggest the economy shrank as expected in the fourth quarter of 2012 but there are signs that consumers are saving more.
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Wednesday, 13 February 2013 10:26

CBI forecasts growth to return to the economy

The Confederation of British Industry has announced "organic growth" is beginning to return to the UK economy with one per cent growth forecast for 2013.
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The Office for National Statistics says GDP was estimated to have decreased by 0.3% in Q4 2012 compared with Q3 2012 - although business and finance was one of the few bright-spots.
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Financial advisers believe poor GDP growth will be the biggest challenge to investment growth in 2013, according to Barings.
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GDP fell by 0.1% in the euro area (EA17) and increased by 0.1% in the EU27 during the third quarter of 2012, compared with the previous quarter, according to second estimates published by Eurostat, the statistical office of the European Union.
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GDP growth for the third quarter of 2012 has remained at one per cent according to the Office for National Statistics.
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