U.K. Escapes Triple-Dip Recession With Growth of 0.3%: Economy
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Britain’s economy avoided a triple-dip recession in the first quarter with expansion that exceeded economists’ forecasts and will provide relief to a government criticized for failing to foster a recovery.
Gross domestic product rose 0.3 percent in the period, the Office for National Statistics said today in London. The median forecast of 37 economists in a Bloomberg News survey was for 0.1 percent growth. From a year earlier, GDP rose 0.6 percent, the most since the fourth quarter of 2011. The pound surged.