U.K. Economy Grew 0.5% in First Quarter on Services Rebound
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Britain’s economy rebounded in the first quarter by enough to erase the contraction of the previous three months on the strongest surge in service-industry growth for four years.
Gross domestic product rose 0.5 percent from the final quarter of 2010, when it fell by the same amount, the Office for National Statistics said today in London. The result matched the median forecast of 28 economists in a Bloomberg News survey. Services expanded by 0.9 percent, the most since 2006.