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British economy expands 1.2 percent in second quarter
Date: 2010/9/30 Click: 1876
The British economy grew 1.2 percent in the second quarter over the previous quarter, the fastest pace since the first quarter of 2001, the Office for National Statistics (ONS) said Tuesday.

ONS said in its final gross domestic product (GDP) report for the quarter GDP growth remained unrevised from its previously published 1.2 percent, quarter on quarter, and 1.7 percent year on year.

It said output by production industries remained unrevised at 1 percent in the latest quarter.

Within production, manufacturing output increased 1.6 percent, but utilities output fell 1.3 percent, and mining and quarrying output was flat.

Construction output in Britain rose 9.5 percent, up from 8.5 percent in the previous estimate.

Output in the service industries was revised down to 0.6 percent in the latest quarter, compared with growth of 0.2 percent in the previous quarter.

Growth in the latest quarter was led by a rise of 1 percent in business services and finance, offset by a fall of 1.5 percent in transport, storage and communications services.

The British economy has suffered a serious recession in recent years and GDP declined for six quarters in a row from the second quarter of 2008 to the third quarter of last year.

Although it began to recover from the last quarter of 2009, some analysts say a large-scale government spending cut would hurt the economy in the coming quarters.
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