Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

UK 2nd-quarter economic growth revised up

[August 23, 2013]  LONDON (AP) -- Britain's statistical agency has revised up its estimate of quarterly economic growth in the April-June period to 0.7 percent.

The Office of National Statistics lifted it from the previous quarter-on-quarter estimate of 0.6 percent. Though Friday's revision is slight, it will further fuel optimism that Britain's economy is moving in the right direction.

The ONS attributed the revision to small increases in activity across a number of the main industrial groupings.

Chris Williamson, an analyst with Markit.com, says the details are encouraging as they show growth is not being fueled just by household spending but rather by exports and business investment.

[Associated Press]

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.